Sensata Technologies plans to pay some down debt with IPO proceeds

By Angela McDaniels

Tacoma, Wash., Nov. 25 - Sensata Technologies Holding BV plans to repay a portion of its long-term debt using some of the proceeds from its initial public offering of shares, according to an S-1 filing with the Securities and Exchange Commission.

The company's long-term debt includes term loans due April 27, 2013, 8% senior notes due 2014, 9% senior subordinated notes due 2016 and 11¼% senior subordinated notes due 2014.

As of Sept. 30, the term loans had a combined outstanding balance of $1.48 billion and there was $340.0 million principal amount of senior notes and $457.5 million principal amount of senior subordinated notes outstanding.

The company said the selection of which series of debt, the amounts to be repaid within a particular series, the timing of repayment and the particular method by which repayment will be made, which could include redemption calls, open-market purchases, privately negotiated transactions or tender offers with respect to the notes, have not been determined.

Sensata makes sensors and controls. It is based in Almelo, the Netherlands, and has U.S. headquarters in Attleboro, Mass.

© 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.