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July 07, 2015 9:32 PM ET

Electrical Equipment

Company Overview of Sensata Technologies B.V.

Company Overview

Sensata Technologies B.V., an industrial technology company, through its subsidiaries, engages in the development, manufacture, and sale of sensors and controls primarily in the Americas, the Asia Pacific region, and Europe. The company operates in two segments, Sensors and Controls. The Sensors segment offers pressure, force, electromechanical, speed, and position sensor products that are used in subsystems of automobiles and heavy off-road vehicles; and industrial products, such as HVAC systems. Its products improve operating performance and safety of various products, including automobiles’ heating and air-conditioning systems. This segment serves original equipment manufacturers (OEMs) a...

Kolthofsingel 8

Almelo,  7602 EM

Netherlands

Founded in 1931

10,500 Employees

Phone:

31 546 87 95 55

Fax:

31 546 87 05 35

Key Executives for Sensata Technologies B.V.

Chief Executive Officer, President and Executive Director
Age: 58
Chief Operating Officer, Executive Vice President and Director
Age: 48
Senior Vice President of Global Operations
Age: 60
Senior Vice President of Sensors
Age: 57
Senior Vice President of Controls
Age: 51
Compensation as of Fiscal Year 2015.

Sensata Technologies B.V. Key Developments

Sensata Technologies B.V. and Sensata Technologies Finance Company, LLC and Sensata Technologies Intermediate Holding B.V. Enters into the Sixth Amendment to Credit Agreement

Sensata Technologies B.V. and Sensata Technologies Finance Company, LLC and Sensata Technologies Intermediate Holding B.V. have agreed to enter into the sixth amendment to their credit agreement, dated as of May 12, 2011. The Credit Agreement provides the Borrowers with both an original term loan due May 2019 and an incremental term loan due October 2021. Pursuant to the Amendment, the Borrowers have agreed to reprice both the Original Term Loan and the Incremental Term Loan.  The repricing will decrease the interest rate spread on the Original Term Loan and the Incremental Term Loan by 0.25% and 0.50%, respectively.  Pricing for both tranches will be finalized at LIBOR plus 2.25%, with a 0.75% LIBOR floor, and the maturity of the Original Term Loan will be extended to October 2021, to correspond with the existing maturity date of the Incremental Term Loan.  The repriced term loans were offered at 99.75% of par.  The Amendment is expected to become effective on or about May 11, 2015.

Sensata Technologies B.V. Completes Series of Financing Transactions of 6.5% Senior Notes Due 2019

On March 26, 2015, Sensata Technologies B.V. (the Issuer) completed a series of financing transactions (the Transactions) including the tender offer (the Tender Offer) of $620.9 million of the Issuer's $700.0 million aggregate principal amount of 6.5% senior notes due 2019 (the 6.5% Senior Notes), the issuance and sale of the Issuer's $700.0 million aggregate principal amount of 5.0% senior notes due 2025 (the Notes), and the entry into the fifth amendment (the Fifth Amendment) to the Issuer's existing senior secured credit facilities, dated as of May 12, 2011. A portion of the net proceeds from the issuance and sale of the Notes were used to purchase the portion of the 6.5% Senior Notes that were validly tendered in the Tender Offer and pay related fees and expenses. The remaining proceeds, along with cash on hand, will be used to discharge the remaining 6.5% Senior Notes that were not purchased in the Tender Offer in accordance with the indenture for the 6.5% Senior Notes. The Fifth Amendment (1) increased the availability on the existing revolving credit facility (the Revolving Credit Facility) by $100.0 million to $350.0 million; (2) extended the maturity date of the Revolving Credit Facility to March 26, 2020; (3) lowered the maximum commitment fee on the unused portion of the Revolving Credit Facility from 0.50% to 0.375%; (4) lowered the index rate spread for Eurodollar Rate loans from 2.500%, 2.375%, or 2.250% (depending on the achievement of certain senior secured net leverage ratios) to 1.75% or 1.50% (depending on the achievement of certain senior secured net leverage ratios); (5) lowered the index rate spread for Base Rate loans from 1.500%, 1.375%, or 1.250% (depending on the achievement of certain senior secured net leverage ratios) to 0.75% or 0.50% (depending on the achievement of certain senior secured net leverage ratios); and (6) lowered the letter of credit fees from 2.500%, 2.375%, or 2.250% (depending on the achievement of certain senior secured net leverage ratios) to 1.625% or 1.375% (depending on the achievement of certain senior secured net leverage ratios).

Sensata Technologies B.V. Announces Pricing of $700 Million of Senior Notes

Sensata Technologies Holding N.V. announced that its indirect, wholly-owned subsidiary, Sensata Technologies B.V., has priced an offering of $700 million in aggregate principal amount of 5.00% senior notes due 2025. The Notes and the related guarantees will be offered only to persons reasonably believed to be 'qualified institutional buyers' in reliance on the exemption from registration pursuant to Rule 144A under the Securities Act of 1933, as amended and to persons outside of the United States in compliance with Regulation S under the Securities Act. The Notes and the related guarantees have not been registered under the Securities Act or the securities laws of any other state or jurisdiction and may not be offered or sold in the United States without registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities or blue sky laws and foreign securities laws. The Notes and the guarantees will be the Issuer's and the guarantors' senior unsecured obligations and will rank equally in right of payment to all existing and future senior indebtedness of the Issuer or the guarantors, including the Issuer's 4.875% senior notes due 2023 and 5.625% senior notes due 2024. The Notes and the guarantees will be senior to all of the Issuer's and the guarantors' future indebtedness that is expressly subordinated to the Notes and the guarantees. The Notes and the guarantees will be effectively junior to the Issuer's and the guarantors' secured indebtedness to the extent of the assets securing that indebtedness, including obligations under the Issuer's senior secured credit facilities, and will be structurally subordinated to all of the existing and future obligations of any of the Issuer's subsidiaries that do not guarantee the Notes. Sensata intends to use the net proceeds from the offering of the Notes together with cash on hand to purchase any and all of the Issuer's $700 million 6.5% senior notes due 2019 (6.5% notes) that are validly tendered (and not validly withdrawn), in the tender offer for the 6.5% notes that Sensata commenced, pay all accrued interest on the 6.5% notes and pay all fees and expenses in connection with the sale of the Notes and the Tender Offer.

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