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| Exchange Disseminated Time | Motherson Sumi Systems Ltd has informed BSE that Samvardhana Motherson Automotive Systems Group B.V., Netherlands (SMRP, BV), Company's subsidiary and joint venture with Samvardhana Motherson International Limited for Samvardhana Motherson Reflectec (SMR) and Samvardhana Motherson Peguform (SMP) has announced the closing of its offering of €500,000,000 aggregate principal amount of new 4 1/8% Senior Secured Notes due 2021 (the "Senior Secured Notes").
The net proceeds from the issuance and sale of the Senior Secured Notes will be used, in combination with borrowings under new revolving credit facilities and certain factoring agreements, to prepay in full and cancel (i) certain existing third party indebtedness, (ii) certain finance leases and (iii) certain shareholder loans, with any remaining proceeds to be used for the payment of accrued interest on indebtedness to be prepaid and for general corporate purposes, including to make certain capital expenditures. |
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