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Share Name | Share Symbol | Market | Type |
---|---|---|---|
BorgWarner Inc | NYSE:BWA | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.81 | 2.27% | 36.44 | 36.72 | 36.04 | 36.18 | 4,825,566 | 01:00:00 |
AUBURN HILLS, Mich., March 9, 2015 /PRNewswire/ -- BorgWarner today announced that it priced a public offering of $1.0 billion aggregate principal amount of fixed rate senior notes, consisting of the following:
The company expects that it will receive approximately $988 million of net proceeds from the offering after deducting underwriting discounts, commissions and expenses of the offering. The company intends to use the net proceeds for general corporate purposes, including the repayment of U.S. short-term indebtedness, and to partially fund its previously announced $1.0 billion share repurchase program. The offering is expected to close on March 16, 2015, subject to customary closing conditions.
Deutsche Bank Securities Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated and Wells Fargo Securities, LLC are serving as joint book-running managers for the offering.
The offering is being made under the company's shelf registration statement filed with the Securities and Exchange Commission and only by means of a prospectus supplement and accompanying prospectus. A copy of the prospectus supplement and accompanying prospectus relating to the offering may be obtained from either:
Alternatively, the prospectus supplement and accompanying prospectus may be obtained by visiting EDGAR on the SEC Web site at www.sec.gov.
This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor will there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About BorgWarner
BorgWarner Inc. (NYSE: BWA) is a product leader in highly engineered components and systems for powertrains around the world. Operating manufacturing and technical facilities in 58 locations in 19 countries, the company delivers innovative powertrain solutions to improve fuel economy, reduce emissions and enhance performance.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/borgwarner-prices-10-billion-senior-notes-offering-300047758.html
SOURCE BorgWarner Inc.
Copyright 2015 PR Newswire
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