Sensata launches $927.8 million term loan B at Libor plus 175-200 bps

By Sara Rosenberg

New York, Oct. 26 – Sensata Technologies BV launched on Thursday its $927,794,128 senior secured covenant-light term loan B (Baa3/BBB-) due Oct. 14, 2021 with price talk of Libor plus 175 basis points to 200 bps with a 0% Libor floor and a par issue price, according to a market source.

The term loan has 101 soft call protection for six months and amortization of 1% per annum, the source said.

Morgan Stanley Senior Funding Inc. is the lead bank on the deal.

Proceeds will be used to reprice an existing term loan B and amend certain covenants and definitions.

Commitments/consents are due at noon ET on Wednesday, the source added.

Sensata is a producer of sensors and controls for manufacturers in 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.