BorgWarner Announces Pricing Terms of Cash Tender Offers for its Senior Notes
BorgWarner announced pricing for its tender offers to purchase up to $720 million in aggregate principal of four series of senior notes due between 2027 and 2045, plus an 'any and all' offer for its 7.125% notes due 2029. The offer includes a sub-cap of $250 million for the 2.650% notes due 2027 and is part of a balanced capital allocation strategy intended to grow long-term earnings.
Key figures
- Waterfall cap
- 720000000
- Sub cap 2.650 notes
- 250000000
- Tender consideration 2.650 notes
- $986.77
- Tender consideration 4.375 notes
- $827.77
- Tender consideration 4.950 notes
- $1,010.87
- Tender consideration 5.400 notes
- $1,019.75
- Tender consideration 7.125 notes
- $1,061.70
- Aggregate principal outstanding 2.650 notes due 2027
- 1100000000
- Aggregate principal outstanding 4.375 notes due 2045
- 500000000
- Aggregate principal outstanding 4.950 notes due 2029
- 500000000
- Aggregate principal outstanding 5.400 notes due 2034
- 500000000
- Aggregate principal outstanding 7.125 notes due 2029
- 120685000
AI analysis
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