PHINIA Inc. (NYSE: PHIN) has announced its plan to offer $400 million in unsecured senior notes due 2032 in a private offering exempt from the Securities Act of 1933. The offering is subject to market conditions and other customary factors.
The notes will be backed by guarantees from the Company’s subsidiaries that also guarantee its existing credit facilities and 6.75% senior secured notes due 2029.
The proceeds from the offering are intended to repay outstanding borrowings under the term loan A facility, cover fees and expenses related to the offering, and for general corporate purposes.
The notes will not be registered under the Securities Act or state securities laws and cannot be sold in the U.S. or to U.S. persons without registration or an exemption. They are being offered only to qualified institutional buyers under Rule 144A and to certain non-U.S. persons under Regulation S.
This announcement does not constitute an offer to sell or solicit an offer to buy the notes in any jurisdiction where such an offer would be illegal before registration or qualification.
Forward-Looking Statements
This release contains forward-looking statements regarding the offering and its anticipated outcomes. These statements involve risks and uncertainties that may cause actual results to differ significantly from those expressed or implied. Factors that could affect the results include economic conditions, industry competition, regulatory changes, and other variables outlined in our SEC filings.
We do not undertake any obligation to update these forward-looking statements, except as required by law.