BorgWarner Sets Pricing for Multi-Series Debt Tender Offers

The automotive supplier is targeting an aggregate tender consideration of up to $720 million for its "Waterfall Notes," alongside an "any and all" offer for its 7.125% senior notes due 2029. Any 7.125% notes remaining after the offer are subject to a mandatory redemption notice issued to The Bank of New York Mellon, scheduled for September 9, 2026.

Pricing for the tender was determined based on the reference yield of specific U.S. Treasury securities as of 3:00 p.m. New York City time on August 14, 2026. For example, the 4.375% senior notes due 2045 are priced at $827.77 per $1,000 principal amount, while the 5.400% notes due 2034 are set at $1,019.75. Participation in the buyback remains voluntary for noteholders, with the deadline for tenders set for 5:00 p.m. today. Barclays Capital and PNC Capital Markets are acting as dealer managers for the transaction, with Global Bondholder Services Corporation serving as the information agent.