Current Report Filing (8-k)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

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FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 7, 2015

 

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SENSATA TECHNOLOGIES HOLDING N.V.

(Exact name of Registrant as specified in its charter)

 

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The Netherlands		001-34652		98-0641254
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

Kolthofsingel 8, 7602 EM Almelo

The Netherlands

(Address of Principal executive offices, including Zip Code)

31-546-879-555

(Registrant's telephone number, including area code)

 

(Former name or former address, if changed since last report)

 

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

o	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

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Item 8.01	Other Events.

On May 7, 2015, Sensata Technologies Holding N.V. announced that its indirect, wholly-owned subsidiaries, Sensata Technologies B.V. and Sensata Technologies Finance Company, LLC (collectively, the "Borrowers") and Sensata Technologies Intermediate Holding B.V., have agreed to enter into the sixth amendment (the "Amendment") to their credit agreement, dated as of May 12, 2011 (as amended from time to time, the "Credit Agreement"). The Credit Agreement provides the Borrowers with both an original term loan due May 2019 (the "Original Term Loan") and an incremental term loan due October 2021 (the "Incremental Term Loan").

Pursuant to the Amendment, the Borrowers have agreed to decrease the interest rate spread on both the Original Term Loan and the Incremental Term Loan, and to extend the maturity of the Original Term Loan to October 2021. The Amendment is expected to become effective on or about May 11, 2015.

A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01	Financial Statements and Exhibits.

(d) Exhibits

99.1		May 7, 2015 press release entitled "Sensata Technologies Announces Amendments to Credit Agreement."

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

				SENSATA TECHNOLOGIES HOLDING N.V.
				/s/ Paul Vasington
Date: May 7, 2015				Name: Paul Vasington
				Title: Executive Vice President and Chief Financial Officer

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EXHIBIT INDEX

 

Exhibit No.		Description
99.1		May 7, 2015 press release entitled "Sensata Technologies Announces Amendments to Credit Agreement."

 

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Sensata Technologies Announces Amendments to Credit Agreement

Almelo, the Netherlands – (May 7, 2015) -- Sensata Technologies Holding N.V. ("Sensata" or the “Company”) (NYSE: ST) announced today that its indirect, wholly-owned subsidiaries, Sensata Technologies B.V. and Sensata Technologies Finance Company, LLC (collectively, the “Borrowers”), and Sensata Technologies Intermediate Holding B.V. have agreed to enter into the sixth amendment (the "Amendment") to their credit agreement, dated as of May 12, 2011 (as amended from time to time, the “Credit Agreement”). The Credit Agreement provides the Borrowers with both an original term loan due May 2019 (the “Original Term Loan”) and an incremental term loan due October 2021 (the “Incremental Term Loan”).

Pursuant to the Amendment, the Borrowers have agreed to reprice both the Original Term Loan and the Incremental Term Loan. The repricing will decrease the interest rate spread on the Original Term Loan and the Incremental Term Loan by 0.25% and 0.50%, respectively. Pricing for both tranches will be finalized at LIBOR+2.25%, with a 0.75% LIBOR floor, and the maturity of the Original Term Loan will be extended to October 2021, to correspond with the existing maturity date of the Incremental Term Loan. The repriced term loans were offered at 99.75% of par. The Amendment is expected to become effective on or about May 11, 2015.

About Sensata Technologies Holding N.V.

Sensata is one of the world’s leading suppliers of sensing, electrical protection, control and power management solutions with operations and business centers in sixteen countries. Sensata’s products improve safety, efficiency and comfort for millions of people every day in automotive, appliance, aircraft, industrial, military, heavy vehicle, heating, air-conditioning and ventilation, data, telecommunications, recreational vehicle and marine applications. For more information, please visit Sensata’s website at www.sensata.com. Information on Sensata’s website is not incorporated by reference into, and does not form part of, this press release.

Safe Harbor Statement

Statements in this release which are not historical facts, such as those that may be identified by the use of words such as "anticipate," "believe," "could," "estimate," "expect," "feel," "forecast," "intend," "may," "plan," "potential," "project," "should," "would," and similar expressions, are forward-looking statements under the provisions of the Private Securities Litigation Reform Act of 1995. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. These risks and uncertainties include, but are not limited to, the consummation of the Amendment. Forward-looking statements reflect management's analysis as of the date of this press release. Important factors that could cause actual results to differ materially from the Company’s expectations are more fully described in the Company’s filings with the Securities and Exchange Commission. Except as required by applicable law, the Company does not undertake to publicly update or revise

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any of these forward-looking statements, whether as a result of new information, future events or otherwise. Copies of the Company’s filings are available from its Investor Relations department or from the SEC website, www.sec.gov.

Contact:
Investors:			News Media:
Jacob Sayer			Linda Megathlin
[phone]			[phone]
[e-mail]			[e-mail]