Sensata Technologies Holding plc Announces Upcoming Redemption of 5.625% Senior Notes due 2024 by Sensata Technologies B.V.
SWINDON, England, November 16, 2023--(BUSINESS WIRE)--Sensata Technologies Holding plc (NYSE: ST) ("Sensata Technologies") today announced that its indirect wholly owned subsidiary, Sensata Technologies B.V. (the "Issuer"), intends to redeem in full all $400,000,000 in aggregate principal amount of its outstanding 5.625% Senior Notes due 2024 (the "Notes"). The redemption will be made in accordance with the terms of the indenture governing the Notes and the terms of the notice of redemption being delivered to all registered holders of the Notes.
"Sensata has de-emphasized further acquisitions given the capabilities we have built in-house to address the growth of Electrification," said Jeff Cote, CEO and President of Sensata. "Consequently, it is appropriate to repay the Notes now to decrease our gross debt outstanding."
The Issuer expects to redeem the Notes on December 18, 2023 (the "Redemption Date") at a redemption price equal to 100.000% of the aggregate principal amount of the outstanding Notes, plus the "make whole" premium, plus accrued and unpaid interest to (but not including) the Redemption Date (the "Redemption Price"). The Redemption Price will be due and payable on the Redemption Date upon surrender of the Notes.
The notice of redemption is being delivered to all registered holders of the Notes by The Bank of New York Mellon, the trustee for the Notes (the "Trustee"). Copies of the notice of redemption may be obtained from the Trustee by calling 1-800-254-2826.
This press release is for informational purposes only and shall not constitute an offer to sell or a solicitation of an offer to buy the Notes or any other securities.
About Sensata Technologies
Sensata Technologies is a global industrial technology company striving to create a cleaner, more efficient, electrified, and connected world. Through its broad portfolio of sensors, electrical protection components and sensor-rich solutions which create valuable business insights, Sensata helps its customers address increasingly complex engineering and operating performance requirements. With more than 21,000 employees and global operations in 16 countries, Sensata serves customers in the automotive, heavy vehicle & off-road, industrial, and aerospace markets. Learn more at www.sensata.com and follow us on LinkedIn, Facebook and Twitter.
Safe Harbor Statement
Statements in this release which are not historical facts, such as those that may be identified by the use of words such as "anticipate," "believe," "could," "estimate," "expect," "feel," "forecast," "intend," "may," "plan," "potential," "project," "should," "would," and similar expressions, are forward-looking statements under the provisions of the Private Securities Litigation Reform Act of 1995. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. These risks and uncertainties include, but are not limited to, the consummation of the offering by the Issuer and the use of proceeds. Detailed information about some of the other known risks is included in our Annual Report on Form 10-K for the year ended December 31, 2022, and our other reports filed with the Securities and Exchange Commission. Because actual results could differ materially from our intentions, plans, expectations, assumptions, and beliefs about the future, you are urged to view all forward-looking statements contained in this news release with caution. Except as required by applicable law, we do not undertake to publicly update or revise any of these forward-looking statements, whether as a result of new information, future events, or otherwise.
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Contacts
Media Contact:
Alexia Taxiarchos
Head of Media Relations
+1 (508) 236-1761
ataxiarchos@sensata.com
Investor Contact:
Jacob Sayer
Vice President, Finance
+1 (508) 236-1666
jsayer@sensata.com
