Garrett Motion closes $800M 7.750% Senior Notes due 2032; amends credit facility to lower rates

Garrett Motion Inc.

$800M aggregate principal of 7.750% Senior Notes due 2032 issued; proceeds to repay ~$800M of term loan debt.
Dollar Initial Term Loan rates cut to 2.75% (Term Benchmark) and 1.75% (ABR) via Fourth Amendment.
Revolving credit commitments increased by $30.25M to $600M via Fifth Amendment.
Notes mature May 31, 2032; semiannual interest starts Nov 30, 2024; senior unsecured with parent guarantees.

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