Shearman And Sterling

News September 20, 2019

Sensata Technologies’ $1.33 Billion Financing and $450 Million Senior Notes Offering

Shearman & Sterling advised Morgan Stanley Senior Funding, Inc., as administrative agent, on an amendment to Sensata Technologies B.V. and Sensata Technologies Finance Company, LLC’s existing $1.33 billion senior secured credit facilities consisting of a $420 million revolving credit facility and a $914 million senior secured term loan B facility, to extend the maturity date of the term loan, change borrower entity to Sensata Technologies, Inc. and make certain other amendments to the senior secured credit facilities.

Shearman & Sterling LLP also advised Goldman Sachs & Co. LLC, Barclays Capital Inc., BofA Securities, Inc., Morgan Stanley & Co. LLC, Mizuho Securities USA LLC and RBC Capital Markets, LLC, as initial purchasers, in connection with a $450 million issuance of 4.375% senior notes due 2030 by Sensata Technologies, Inc., an indirect, wholly owned subsidiary of Sensata Technologies Holding plc.

Sensata Technologies, Inc. used the net proceeds from the offering of the notes to partially repay the term loans outstanding under its senior secured credit facilities and to pay related transaction fees and expenses.

The Shearman & Sterling team below was supported by contract attorney Spencer Barrowes and associate Adam Sternberg.

 The Team