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: dg.prospectus_requests@baml.com 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.
