Sensata to price $700 million 10.5-year notes in Thursday drive-by

By Paul A. Harris

Portland, Ore., March 19 – Sensata Technologies BV plans to price a $700 million offering of non-callable senior notes due Oct. 1, 2025 (existing ratings Ba3/BB+) on Thursday following a late-morning conference call with investors, according to a syndicate source.

Morgan Stanley & Co., Barclays and Goldman Sachs & Co. are joint bookrunners for the Rule 144A for life offer. Mizuho Securities Co. Ltd. and RBC Capital Markets are the co-managers.

The Attleboro, Mass.-based manufacturer of electronic sensors and controls plans to use the proceeds, together with cash on hand, to take out any and all of its notes due 2019 via a tender offer or redemption.

Sensata announced a tender for the notes on Thursday morning.

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