Sensata gets €141 million senior subordinated term loan

By Sara Rosenberg

New York, July 27 - Sensata Technologies, Inc. closed on a new €141 million senior subordinated term loan on Friday, according to an 8-K filed with the Securities and Exchange Commission.

Morgan Stanley, Bank of America and Goldman Sachs acted as the joint lead arrangers and joint bookrunners on the deal.

The term loan, due Oct. 27, 2013, carries an interest rate of Euribor plus 450 basis points, increasing by 50 bps after six months and every three months thereafter. Pricing is capped at 10.5%.

Proceeds were used to help fund the acquisition of Airpax Holdings, Inc., a Cambridge, Md., manufacturer of components and systems for power protection, sensing and control applications, for $276 million.

Sensata is an Attleboro, Mass., designer and manufacturer of sensors and controls for the automotive, appliance, aircraft, industrial and HVAC markets.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.