ALMELO, Netherlands,
May 7, 2015 /PRNewswire/
-- 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 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:
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Investors:
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News
Media:
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Jacob
Sayer
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Linda
Megathlin
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+1 (508)
236-3800
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+1 (508)
236-1761
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investors@sensata.com
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lmegathlin@sensata.com
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SOURCE Sensata Technologies Holding N.V.