Harman International eyeing $400 million 10-year notes Wednesday

By Aleesia Forni

Virginia Beach, May 6 – Harman International Industries, Inc. is in the market on Wednesday with a $400 million offering of senior notes (Baa3/BBB-/) due 2025, according to a market source and a 424B5 filed with the Securities and Exchange Commission.

The bookrunners are BofA Merrill Lynch, J.P. Morgan Securities LLC and Wells Fargo Securities LLC.

Proceeds will be used to repay a portion of the current balance of a revolving credit facility and for general corporate purposes.

Stamford, Conn.-based Harman designs, manufactures and markets audio and infotainment products.

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