Monday, TRW Automotive Holdings Corp. (TRW) said its subsidiary, TRW Automotive Inc. completed its previously announced 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 intends 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.
TRW Automotive Holdings Corp., together with its subsidiaries, designs, manufactures, and sells automotive systems, modules, and components for automotive original equipment manufacturers and related after-markets. It operates in three segments: Chassis Systems, Occupant Safety Systems, and Automotive Components.
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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.