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TRW Sells $250 Million Of Senior Notes

Posted on: Tue, 24 Nov 2009 04:02:00 EST

Symbols: TRW

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Nov 24, 2009 (FinancialWire via COMTEX) --
TRW | Quote | Chart | News | PowerRating -- (Comment on this article at http://www.financialwire.net/2009/11/24/trw-sells-250-million-of-senior-notes/)

November 24, 2009 (FinancialWire) -- TRW Automotive Holdings Corp.'s (NYSE: TRW | Quote | Chart | News | PowerRating) TRW Automotive Inc. unit has completed its offering of $250 million in aggregate principal amount of senior unsecured notes due 2017. The notes will have an interest rate of 8.875% and will be issued at a price equal to 99.292% of their face value.

The company estimates that net proceeds from the offering will be approximately $242 million after deducting initial purchasers' discounts and estimated offering expenses.

TAI plans to use approximately $138 million of the net proceeds from the offering to prepay borrowings under its existing term loan facilities and to use the remaining net proceeds for general corporate purposes.

Michigan-based TRW Automotive operates in 26 countries and employs approximately 64,000 people worldwide. TRW Automotive products include integrated vehicle control and driver assist systems, braking systems, steering systems, suspension systems, occupant safety systems, electronics, engine components, fastening systems and aftermarket replacement parts and services.

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Free annual reports for companies mentioned in the news are available through the Free Annual Reports Service (http://investrend.ar.wilink.com/?level=279).

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For full details on Trw Automotive Hldgs Corp (TRW) TRW. Trw Automotive Hldgs Corp (TRW) has Short Term PowerRatings at TradingMarkets. Details on Trw Automotive Hldgs Corp (TRW) Short Term PowerRatings is available at This Link.

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