Garrett Motion upsizes and prices $800M 7.75% senior notes due 2032 to refinance term loans

Garrett Motion Inc.

Aggregate principal increased from $500M to $800M at 7.750% due 2032.
Proceeds plus cash on hand will repay ~$800M of term loan indebtedness.
Notes sold at 100% plus accrued interest; closing expected May 21, 2024.
Offering is private, unregistered, sold to QIBs and non-U.S. persons under Rule 144A/Reg S.
Guaranteed by Garrett Motion and its restricted subsidiaries that back existing credit facilities.

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