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 4¹/?% 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.
This announcement is not an offer of securities for sale in the United States. The Issuer's securities may not be offered or sold in the United States unless they are registered or are exempt from registration under the U.S. Securities Act of 1933, as amended. The Issuer has not registered and does not intend to register any portion of this Offering in the United States or to conduct a public offering in the United States. Any public offering of the Issuer’s securities to be made in the United States will be made by means of an offering memorandum that may be obtained from the Issuer and that will contain detailed information about the Issuer and its management, as well as financial statements.
The offer and sale of the Senior Secured Notes has been made pursuant to an exemption under the Prospectus Directive, as implemented in Member States of the European Economic Area, from the requirement to produce a prospectus for offers of securities. This announcement does not constitute an advertisement for purposes of the Prospectus Directive.