BorgWarner will redeem 1.8% notes due 2022 via new notes

Chicago, May 12 – BorgWarner Inc. will use some of the proceeds from a new €1 billion offering of 1% notes due 2031 to redeem all €500 million of its 1.8% senior notes due in November 2022, according to a press release.

The remaining proceeds from the new notes will be used for general corporate purposes, including financing a portion of the company’s previously announced acquisition of Akasol AG.

BorgWarner is an Auburn Hills, Mich.-based manufacturer and seller of engineered automotive systems and components.

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