PHINIA upsizes senior secured notes offering to $525M at 6.75%, due 2029

PHINIA INC.

Priced $525M aggregate principal of 6.75% senior secured notes due 2029, up from initially announced $425M.
Notes sold at 100.00% plus accrued interest, closing expected April 4, 2024.
Proceeds to repay term loan B and revolving credit facility borrowings, plus fees and general corporate purposes.
Notes guaranteed by PHINIA subsidiaries and secured by first-priority liens on substantially all assets.

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