By Aleesia Forni
Virginia Beach, Nov. 18 - TRW Automotive Inc. (Ba2/BBB-/) priced $400 million of 4.45% senior notes due 2023 at 99.774 to yield Treasuries plus 180 basis points, according to a market source and a company press release.
The notes priced in a Rule 144A and Regulation S transaction.
Full details were not available at press time.
Proceeds will be used for general corporate purposes, including the retirement of the company's senior notes due March 2014.
TRW Automotive is a Livonia, Mich.-based supplier of automotive systems, modules and components.
| Issuer: | TRW Automotive Inc.
|
| Amount: | $400 million
|
| Description: | Senior notes
|
| Maturity: | 2023
|
| Coupon: | 4.45%
|
| Price: | 99.774
|
| Spread: | Treasuries plus 180 bps
|
| Trade date: | Nov. 18
|
| Settlement date: | Nov. 21
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BBB-
|
| Distribution: | Rule 144A, Regulation S
|
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