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Adient To Offer $750M Senior Secured Notes

The new credit facilities, which are expected to consist of a Term Loan B and an asset-based revolver, together with the notes, are expected to provide pro forma liquidity of about $1.9 billion.

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Adient, a global supplier of automotive seating, has announced that its wholly owned subsidiary, Adient US LLC intends to offer $750 million in aggregate principal amount of senior secured notes due 2026 in a private offering. The notes offer is subject to market and other customary conditions.

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Adient said it intends to use the net proceeds from this offering, together with borrowings under new credit facilities, to prepay in full and terminate commitments under its existing credit agreement. The new credit facilities, which are expected to consist of a Term Loan B and an asset-based revolver, together with the notes, are expected to provide pro forma liquidity of about $1.9 billion.  

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