Deals 06/16/2020

Loop Capital Markets acted as co-manager on a $1.1 billion senior unsecured bond offering for BorgWarner Inc.

On June 16, 2020, Loop Capital Markets acted as a co-manager on a one-tranche, $1.1 billion, senior unsecured bond offering for BorgWarner Inc. The 7-year note is rated Baa1/BBB+.

Use of proceeds are earmarked for repaying existing indebtedness which may include the redemption of 4.625% Senior Notes due 9/15/020 ($250mm o/s) and (ii) upon the successful consummation of the Delphi Transaction, to repay certain amounts outstanding under Delphi Technologies’ $1.25 billion senior secured credit facility; and the remainder for general corporate purposes.