TRW Automotive sets senior notes tender |
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Thu, 22 Mar 2007 00:33
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LIVONIA, Mich. (AP) - TRW Automotive Holdings Corp., a holding company for automotive supplier TRW Automotive Inc., on Wednesday priced its tender offer for its senior notes.The company is offering to buy back $825 million in 9.375 percent senior notes due 2013 and $195 million in 11 percent senior notes due 2013. It is also offering to repurchase 130 million euros ($172.9 million) of 10.125 senior notes due 2013 and 81 million euros ($107.7 million) of 11.75 percent senior notes due 2013.The total consideration for each $1,000 principal on the 9.375 percent notes is $1,078.26. The total consideration for each $1,000 principal amount of the 11 percent notes is $1,099.86.The total consideration for each euro 1,000 ($1,329.82) principal amount of the 10.125 percent notes is euro 1,096.69 ($1,458.40). The total consideration for each euro 1,000 principal amount of the 11.75 percent notes is euro 1,118.44 ($1,487.32).Total consideration includes a $30 or euro 30 ($39.89) consent payment, depending on the currency the note was issued in, and excluding accrued and unpaid interest.Holders must tender and deliver consents by March 23 to receive total consideration for the notes.Shares rose a penny in aftermarket electronic trading to $34.61, after closing up 13 cents at $34.60 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 This material may not be published, broadcast, rewritten, or redistributed.
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TRW makes $1.49B senior note offering 