TRW makes $1.49B senior note offering |
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Mon, 12 Mar 2007 18:11
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LIVONIA, Mich. (AP) - Automobile parts supplier TRW Automotive Holdings said Monday it plans to offer $1.49 billion worth of senior notes in a private placement.The company said it will offer $670 million in senior notes due 2014, 250 million euro ($329.7 million) in notes due 2014, as well as $500 million in notes due 2017.TRW said it will use proceeds from the offering to repurchase $825 million worth of senior notes due 2013, 130 million euro ($171 million) worth of senior notes due 2013, $195 million senior subordinate notes due 2013 and 81 million euro ($106 million) senior subordinated notes due 2013.Shares of TRW Automotive Holdings Corp. rose 39 cents Monday to $31.89 in morning trading on the New York Stock Exchange.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Cypress notes convert at $23.90 each 