J.P. Morgan, Others Arrange Delphi Notes Offering
Delphi Corporation, a subsidiary of Delphi Automotive PLC, announced that it intends to offer, subject to market and other considerations, $800 million in aggregate principal amount of senior notes due 2023.
J.P. Morgan Securities, Merrill Lynch, Pierce, Fenner and Smith, Deutsche Bank Securities, Barclays Capital, Citigroup Global Markets and Goldman, Sachs are joint bookrunning managers for the offering.
The notes will be guaranteed by Delphi Automotive PLC and by certain of its subsidiaries. Delphi expects to use the net proceeds to repay a portion of the term loan indebtedness under its credit agreement and for general corporate purposes.
Delphi Automotive is a global supplier of electronics and technologies for automotive, commercial vehicle and other market segments.