During Monday’s Morning trade, Shares of Sensata Technologies Holding N.V. (NYSE:ST), gained 1.27% to $43.75.
Sensata Technologies Holding, declared that its newly formed indirect wholly-owned partner, Sensata Technologies UK Financing Co. plc (the “Issuer”), priced $750 million in aggregate principal amount of 6.250% senior notes due 2026 (the “Notes”) in a private offering that is exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”). The Notes were priced at par. The closing of the offering is predictable to occur on November 27, 2015, subject to customary closing conditions.
The Notes will be guaranteed on a senior unsecured basis by Sensata Technologies B.V., the Issuer’s direct parent (“STBV”), and by STBV’s existing and future wholly-owned auxiliaries (other than the Issuer) that guarantee the obligations of STBV under its senior secured credit facilities and outstanding series of existing notes. 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, respectively, counting STBV’s senior secured credit facilities and outstanding series of existing notes. 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’ existing and future secured indebtedness to the extent of the value of the assets securing such indebtedness, counting indebtedness under STBV’s senior secured credit facilities, and will be structurally subordinated to all of the existing and future obligations of any of STBV’s auxiliaries (other than the issuer) that do not guarantee the Notes.
Sensata intends to use the net proceeds from the offering of the Notes, together with about $250 million of revolving borrowings under STBV’s senior secured credit facilities and cash on hand, to finance the formerly declared acquisition of the sensing portfolio of Custom Sensors & Technologies, Inc., and related sales, manufacturing and engineering sites in the United States, United Kingdom, Germany, France, China and Mexico (the “CST Acquisition”), and to pay related transaction fees and expenses. The Notes will be subject to a special mandatory redemption if the CST Acquisition is not consummated.
Sensata Technologies Holding N.V., through its auxiliaries, develops, manufactures, and sells sensors and controls. It operates in two segments, Sensors and Controls. The Sensors segment manufactures pressure, temperature, speed, position, and force sensors, in addition to electromechanical sensors.
Shares of Interpublic Group of Companies Inc (NYSE:IPG), inclined 0.89% to $22.65, during its current trading session.
In observance of, World Pneumonia Day, a new pneumonia prevention communications campaign called, Every Second Counts, will be launched at the Pneumonia Innovations Summit in New York City.
The campaign, created by McCann Health in partnership with Clinton Health Access Initiative, Unicef, USAID, and Abt Associates—all members of the UN Commission on Life-Saving Commodities for Women and Children – was designed to assist educate and arm caregivers and frontline health workers in developing countries with the knowledge and skills to save children’s lives.
Too many children are dying every day from pneumonia, when most of these deaths can be prevented. Pneumonia is the leading infectious killer of children under 5, and the vast majority of these deaths occur in developing countries where resources are limited.
The campaign comprises multi-media kits with posters, illustrated stories and fliers that are simple to use and freely available to anyone. The kits are available in different regional/cultural variations, languages and can be adapted to suit local needs.
The Interpublic Group of Companies, Inc. provides advertising and marketing services. The company operates in two segments, Integrated Agency Networks and Constituency Administration Group.
Finally, Shares of Public Service Enterprise Group Inc. (NYSE:PEG), gained 1.20%, and is now trading at $39.53.
Furthering PSEG’s commitment to military professionals and veterans, the PSEG Foundation has granted $50,000 to the Wounded Warrior Project (WWP) and $50,000 to The Headstrong Project to assist support the organizations’ social work initiatives.
“PSEG is a strong supporter of veteran’s services through our employment efforts, resource groups and our commitment to diversity and inclusion,” said Ellen Lambert, president- PSEG Foundation. “Our veterans deserve care, funding and services for putting their lives on the line, their dedication and their sacrifice to keep us safe. A grant from our Foundation reinforces our commitment to veterans and service members.”
The $50,000 grant to WWP will support their Economic Empowerment (E2) programs, which focus on the education and employment aims of military personnel who incurred a physical or mental injury, illness, or wound, in connection to their military service on or after Sept. 11, 2001. The E2 programs focus on higher education, information technology training, and employment assistance services to provide opportunities in economic empowerment and long-term financial stability. WWP Alumni pay no fees for WWP programs and services - they paid their dues on the battlefield.
Public Service Enterprise Group Incorporated, through its auxiliaries, operates as an energy company primarily in the northeastern and Mid Atlantic United States. The company operates nuclear, coal, gas, oil-fired, and renewable generation facilities with a generation capacity of about 13,146 megawatts.