Lear Corporation (NYSE: LEA), a leading global supplier of automotive seating and electrical distribution systems, announced today that it intends to commence an offering of $325 million in senior unsecured notes due 2024 in an underwritten public offering. The final terms of the offering will depend upon market conditions and other factors.
The Company intends to use the proceeds from the offering to redeem the remaining aggregate principal amount of its 7.875% Senior Notes due 2018 and to partially redeem its 8.125% Senior Notes due 2020, as previously announced, and for general corporate purposes.
J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Barclays Capital Inc., RBC Capital Markets, LLC and UBS Securities LLC are acting as joint book-running managers for the bond offering. Lear is making this offering pursuant to a shelf registration statement that became effective upon filing with the Securities and Exchange Commission (the “SEC”) on March 11, 2014. This offering will be made solely by means of a prospectus and prospectus supplement, copies of which may be obtained from J.P. Morgan Securities LLC c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (or by telephone at 1-866-803-9204), Citigroup Global Markets Inc. c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (or by telephone at 1-800-831-9146), Barclays Capital Inc. c/o Broadridge Integrated Distribution Services, 1155 Long Island Avenue, Edgewood, NY
11717 (or by email at barclaysprospectus@broadridge.com or telephone at 1-888-603-5847), RBC Capital Markets, LLC at 200 Vesey Street, New York, NY 10281, Attn: Debt Capital Markets (or by telephone at 866-375-6829 or email at RBCNYFixedIncomeProspectus@rbccm.com) and UBS Securities LLC at 299 Park Avenue, New York, NY 10171, Attn: Prospectus Specialist (or by telephone at 1-877- 827-6444 ext. 561 3884) or through the SEC website at www.sec.gov.
This press release is neither an offer to sell nor a solicitation of an offer to buy any securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful.
