BorgWarner Announces Cash Tender Offers for its Senior Notes
BorgWarner launched cash tender offers for five series of senior notes, totaling over $2.7 billion in outstanding principal. The 'Any and All' offer targets the $120.7 million 7.125% notes due 2029, while a separate waterfall offer capped at $720 million targets the remaining four series based on priority levels.
Key figures
- Tender offer waterfall cap
- $720,000,000
- Outstanding 2.650 percent notes
- $1,100,000,000
- Outstanding 4.375 percent notes
- $500,000,000
- Outstanding 4.950 percent notes
- $500,000,000
- Outstanding 5.400 percent notes
- $500,000,000
- Outstanding 7.125 percent notes
- $120,685,000
AI analysis
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