Sensata to price $750 million 10.25-year notes in Thursday drive-by

By Paul A. Harris

Portland, Ore., Nov. 12 – Sensata Technologies Holding NV plans to price $750 million of 10.25-year senior notes on Thursday, according to a market source.

BofA Merrill Lynch, Barclays, Morgan Stanley, Goldman Sachs & Co., Mizuho Securities and RBS Securities are joint bookrunners for the Rule 144A and Regulation S offering.

The notes come with five years of call protection.

The Almelo, Netherlands-based industrial technology company plans to use the proceeds, together with up to $250 million of borrowings under its revolver and cash on hand, to finance the acquisition of the sensing portfolio of Custom Sensors & Technologies, Inc., and related sales, manufacturing and engineering sites in the United States, United Kingdom, Germany, France, China and Mexico.

The notes will be subject to a special mandatory redemption if the acquisition is not consummated.

Sensata engages in the development, manufacture, and sale of sensors and controls.

© 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.