Adient将发行美元和欧元债,共计20亿美元
Issuer: Adient Global Holdings Ltd
Size: $2b equiv 2-part notes
$1b 10NC5 sr notes talk 5% area
$1b equiv EUR 8NCL sr notes talk 3.5%-3.75%
Timing: Books close USD tomorrow 9:30am EST, EUR today 5pm UK time
Ratings: May be rated Ba3/BB
Format: 144a for life
Mandatory redemption: If the spinoff date does not occur before July 5, 2017 or the Issuer notifies before July 5, 2017 the Escrow agent and Trustee that RemainCo is no longer pursuing the spinoff, the issuer will redeem the aggregate notes outstanding at 101% of the issue price
Global coordinator: CITI
Bookrunners (USD): C/BofAML/GS/JPM/MUFG/USB/WFS
Bookrunners (EUR): BARC/CACIB/UNI (active)/BANCA IMI/COMMERZ/ING/C