TI Automotive launches $1.25 billion term B at Libor plus 350-375 bps

By Sara Rosenberg

New York, June 19 – TI Automotive Ltd. launched on Thursday its $1.25 billion term loan B with price talk of Libor plus 350 basis points to 375 bps with a 1% Libor floor and an original issue discount of 99 to 99½, according to a market source.

J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Bank of America Merrill Lynch and Deutsche Bank Securities Inc. are the lead banks on the deal.

Proceeds will be used to refinance existing debt and fund a dividend.

TI Automotive is an Auburn Hills, Mich.-based supplier of fluid storage, carrying and delivery technology.

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