BorgWarner Wraps Debt Tender Offer With Increased $730 Million Cap

The company’s decision to raise the cap allowed for the partial acceptance of its 4.950% notes due in 2029, even as it strictly adhered to established priority levels. According to records from the tender agent, Global Bondholder Services Corporation, the company accepted the full tendered amounts for its 7.125% notes due in 2029, 4.375% notes due in 2045, and 5.400% notes due in 2034. Conversely, the 2.650% notes due in 2027 were excluded from the final purchase despite significant investor interest.

Investors whose notes were successfully tendered will receive the specified tender consideration plus accrued interest on the upcoming settlement date. Barclays Capital and PNC Capital Markets managed the transaction, which the company structured to optimize its debt profile. Any securities that were tendered but fell outside the final acceptance parameters will be returned to holders in accordance with the original terms of the offer.