GILLINGHAM, England--(BUSINESS WIRE)--Delphi Corporation ("Delphi" or the "issuer"), a subsidiary of Delphi Automotive PLC (NYSE: DLPH), announced today the pricing of its offering of 4.15% Senior Notes due 2024 (the "Notes"). The offering was upsized to $700 million from the previously announced amount of $500 million. The Notes will be issued at a price of 99.649% of their principal amount. Delphi expects to use the net proceeds for general corporate purposes, including to repay its outstanding $500 million Senior Notes due 2019 (the "2019 Notes") and a portion of the tranche A term loan indebtedness under its credit agreement. Delphi intends to redeem the 2019 Notes effective March 26, 2014.
J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Deutsche Bank Securities Inc. and Goldman, Sachs & Co. are joint book−running managers for the offering.
The offering of these securities is made only by means of a prospectus. Copies may be obtained by contacting (1) J.P. Morgan Securities LLC at 383 Madison Avenue, New York, New York 10179, Attention: Investment Grade Syndicate Desk, 3rd Floor, Telephone: (212) 834-4533, (2) Merrill Lynch, Pierce, Fenner & Smith Incorporated at 222 Broadway, New York, New York 10038, Attention: Prospectus Department, Email: firstname.lastname@example.org or (3) Deutsche Bank Securities Inc. at 60 Wall Street, New York, New York 10005-2836, Attention: Prospectus Group, Email: prospectus.CPDG@db.com, Telephone: (800) 503-4611. The Notes are being offered pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission on December 19, 2012.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the Notes, nor will there be any sale of the Notes in any jurisdiction in which such offer, solicitation, or sale would be unlawful. Any offer, solicitation, or sale of the Notes will be made only by means of the prospectus supplement and the accompanying prospectus.
Delphi Automotive PLC (NYSE: DLPH) is a leading global supplier of technologies for the automotive and commercial vehicle markets. Headquartered in Gillingham, England, Delphi operates major technical centers, manufacturing sites and customer support services in 32 countries, with regional headquarters in Bascharage, Luxembourg; Sao Paulo, Brazil; Shanghai, China and Troy, Michigan, U.S. Delphi delivers innovation for the real world with technologies that make cars and trucks safer as well as more powerful, efficient and connected.
This press release, as well as other statements made by Delphi Automotive PLC (the “Company”), contain forward-looking statements that reflect, when made, the Company's current views with respect to current events, the proposed notes offering and the redemption of the 2019 Notes. Such forward-looking statements are subject to many risks, uncertainties and factors relating to the Company's operations and business environment as well as market conditions, which may cause the actual results of the Company to be materially different from any future results, express or implied, by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements are discussed under the captions “Risk Factors” and “Management's Discussion and Analysis of Financial Condition and Results of Operations” in the Company's filings with the Securities and Exchange Commission. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect the Company. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events and/or otherwise, except as may be required by law.