TRW Automotive Holdings Corp. (TRW) said Monday that its subsidiary, TRW Automotive Inc., priced its previously announced private offering of $225 million in aggregate principal amount of 3.50% exchangeable senior notes due 2015.
In addition, TRW Automotive Inc. has granted the initial purchasers of the notes a 30-day option to purchase up to an additional $33.75 million in aggregate principal amount of notes, solely to cover over-allotments, if any.
The notes will pay interest semi-annually on June 1 and December 1 at a rate of 3.50% per annum, and will mature on December 1, 2015.
The company estimates that the net proceeds from this offering will be about $218 million after deducting initial purchasers' discounts and estimated offering expenses.
TRW Automotive Inc. plans to use about one-half of the net proceeds from the offering to repay borrowings under its existing term loan facilities and to use the remaining net proceeds for general corporate purposes, which may include additional repayment of debt.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.