Sensata issues $500M 6.625% notes due 2032, to redeem $700M 5.000% notes due 2025

Sensata Technologies Holding plc

Issued $500M aggregate principal of 6.625% senior notes due July 15, 2032; interest payable Jan 15 and Jul 15 starting Jan 15, 2025.
Net proceeds plus cash on hand will redeem all $700M of 5.000% senior notes due 2025; redemption expected July 15, 2024 at 100% plus Applicable Premium and accrued interest.
Notes are senior unsecured obligations guaranteed by STBV and certain subsidiaries; rank equally with existing senior debt.
Optional redemption: before July 15, 2027 at make-whole premium; thereafter at declining premiums (103.313% in 2027, 101.656% in 2028, 100% from 2029).
Change of control triggers repurchase at 101% of principal plus accrued interest.

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