TI Automotive postpones 10-year senior notes deal, cites market conditions

By Paul A. Harris

St. Louis, Mo., Sept. 30 - TI Automotive Finance plc postponed its offering of $215 million of 10-year senior notes (B3/B) on Monday, according to a syndicate source.

A market source attributed the move to "market conditions."

JP Morgan and Salomon Smith Barney were joint bookrunners. Wachovia Securities, Inc., Barclays Capital, BNP Paribas and RBS were co-managers.

Proceeds were to have been used to refinance debt.

The company is a global auto parts supplier with its European headquarters in Oxford, U.K. and its North American headquarters in Warren, Mich.

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