Sensata drops guarantors from credit facility with term loan repaid

Chicago, Aug. 28 – Sensata Technologies, Inc. announced an Aug. 22 revision to its credit facility agreement which released foreign guarantors from the agreement, according to an 8-K filing with the Securities and Exchange Commission.

The modification was made after the repayment of all term loans under the facility, originally dated May 12, 2011.

Should Sensata borrow term loans again under the agreement, the guaranty and collateral security would need to be reinstated.

The foreign guarantors were also released from their obligations under Sensata Technologies BV’s 5 5/8% senior notes due 2024, 5% senior notes due 2025, 4% senior notes due 2029 and 5 7/8% senior notes due 2030. Sensata Technologies, Inc.’s 4 3/8% senior notes due 2030 and 3¾% senior notes due 2031 also no longer are guaranteed by the foreign guarantors.

The company announced in a 10-Q filing that it repaid all of the term loan on May 3.

Morgan Stanley Senior Funding, Inc. is the administrative agent on the agreement that was last modified Jan. 4, 2023.

The credit facility still covers a $750 million revolver due June 23, 2027.

Based in Attleboro, Mass., Sensata is a global industrial technology company.

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