Sensata Technologies Holding plc and Certain Subsidiaries Announce Early Tender Results and Amendment of Cash Tender Offers
Sensata Technologies announced early results for its cash tender offer to repurchase senior notes, increasing the maximum tender amount from $350 million to $400 million. Tenders for the 4.000% Senior Notes due 2029 alone reached $553.6 million, exceeding the increased cap. Consequently, these notes will be accepted on a prorated basis of approximately 69.1%. The company expects to accept approximately $406.1 million in principal of the 2029 notes at a price of $985 per $1,000, plus a $50 early tender premium.
Key figures
- Deal Value Usd
- 400000000
- Initial tender cap
- 350000000
- Purchase price per 1000
- 985
- Proration rate 2029 notes
- 69.1448%
- Total tendered 2029 notes
- 553580000
- Early tender premium per 1000
- 50
- Principal amount accepted 2029 notes
- 406091000
AI analysis
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