BorgWarner Inc. announced the final results and an upsize of its cash tender offers for several series of its senior notes, increasing the Waterfall Cap to $730,000,000 excluding accrued interest. The tender offers expired on August 14, 2026, and the company accepted for purchase $27,105,000 of its 7.125% Senior Notes due 2029, $130,482,000 of its 4.375% Senior Notes due 2045, $339,547,000 of its 5.400% Senior Notes due 2034, and $272,772,000 of its 4.950% Senior Notes due 2029, while no 2.650% Senior Notes due 2027 were accepted. The company also increased the amount of 4.950% Notes accepted by 2% of the outstanding amount without amending or extending the offer. Barclays Capital Inc. and PNC Capital Markets LLC served as dealer managers, and Global Bondholder Services Corporation acted as tender and information agent.
BorgWarner IncBorgWarner upsizes cash tender offers to $730M, repurchasing senior notes; financial restructuring, impact on equity unclear.
