Loan & DebtJun 1, 2026, 09:18 AM
Sensata Increases Tender Offer to $400M; Accepts $406M STBV 2029 Notes
AI Summary
Sensata Technologies and its subsidiaries announced the early tender results for their cash tender offers for senior notes. The company increased the total cash consideration payable from $350 million to $400 million. Due to high demand, approximately $406.09 million principal amount of STBV 4.000% Senior Notes due 2029 will be accepted, subject to proration, while other notes will not be accepted.
Key Highlights
- Sensata increased the maximum tender offer amount from $350,000,000 to $400,000,000.
- $553,580,000 principal amount of STBV 4.000% Senior Notes due 2029 were tendered by the early deadline.
- Approximately $406,091,000 principal amount of STBV 2029 Notes are expected to be accepted for $400,000,000 cash.
- STBV 2029 Notes will be prorated at approximately 69.1448%.
- No other tendered notes (STI 4.375% Senior Notes due 2030 or STBV 5.875% Senior Notes due 2030) are expected to be accepted.
- Early settlement for accepted STBV 2029 Notes is expected on June 2, 2026.
- Total consideration includes an early tender premium of $50 per $1,000 principal amount for accepted notes.