BorgWarner upsizes cash tender offers for senior notes to USD 730 million
BWA•BorgWarner upsizes cash tender offers for senior notes
- BorgWarner upsized its cash tender offers for senior notes, lifting the waterfall cap to USD 730 million.
- Offers expired Aug. 14; BorgWarner accepted USD 770 million of notes across four series, subject to proration.
- Accepted amounts included USD 339.55 million of 5.400% Senior Notes due 2034, USD 272.77 million of 4.950% Senior Notes due 2029.
- Also accepted USD 130.48 million of 4.375% Senior Notes due 2045, USD 27.11 million of 7.125% Senior Notes due 2029.
- No 2.650% Senior Notes due 2027 were accepted despite USD 300.01 million tendered, reflecting the offer sub-cap and priority levels.
