November 24, 2009 (FinancialWire) — TRW Automotive Holdings Corp.’s (NYSE: TRW) TRW Automotive Inc. unit has completed its 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 plans 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.

Michigan-based TRW Automotive operates in 26 countries and employs approximately 64,000 people worldwide. TRW Automotive products include integrated vehicle control and driver assist systems, braking systems, steering systems, suspension systems, occupant safety systems, electronics, engine components, fastening systems and aftermarket replacement parts and services.

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) web site (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Free annual reports for companies mentioned in the news are available through the Free Annual Reports Service (http://investrend.ar.wilink.com/?level=279).

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.