Category: Suppliers

BorgWarner Prices $1.1 Billion Senior Notes Offering

AUBURN HILLS, Mich., June 16, 2020 /PRNewswire/ — BorgWarner Inc. (NYSE: BWA) (“BorgWarner”) today announced that it priced a public offering of $1.1 billion aggregate principal amount of its 2.650% Senior Notes due 2027 (the “Notes”). The offering is expected to close on June 19, 2020, subject to customary closing conditions. BorgWarner Logo (PRNewsfoto/BorgWarner) More… Continue reading BorgWarner Prices $1.1 Billion Senior Notes Offering

Dana Incorporated — Moody’s rates Dana’s new Senior Unsecured Notes B2

Moody’s Investors Service (“Moody’s”) assigned a B2 rating to Dana Incorporated’s (Dana) new $400 million senior unsecured notes. The net proceeds from the notes will be used for general corporate purposes, including the partial paydown of borrowings under the senior secured revolving credit facility. All other ratings of Dana’s debt are unaffected, including the corporate… Continue reading Dana Incorporated — Moody’s rates Dana’s new Senior Unsecured Notes B2

Yanfeng Global Auto Interior Sys Co., Ltd — Moody’s confirms Yanfeng’s Baa3 rating; outlook negative

Moody’s Investors Service has confirmed the Baa3 issuer rating of Yanfeng Global Automotive Interior Systems Co., Ltd. (YFAI). “The rating confirmation reflects YFAI’s steady revenue generation, driven in turn by its strong position in the global automotive interior market, good geographic diversification, and the operational support from its key indirect shareholder SAIC Motor Corporation Limited,”… Continue reading Yanfeng Global Auto Interior Sys Co., Ltd — Moody’s confirms Yanfeng’s Baa3 rating; outlook negative

Nio Completes $428M ADS Offering, Stock Now Up 70% YTD

China’s electric-vehicle maker Nio Inc (NIO) has announced the completion of the offering of 72 million American depositary shares (ADS) at $5.95 per ADS, raising $428.4 million. The company has also granted the underwriters a 30-day option to purchase up to an additional 10.8 million ADSs. Morgan Stanley & Co. LLC, Credit Suisse Securities (USA)… Continue reading Nio Completes $428M ADS Offering, Stock Now Up 70% YTD

Bosch recharging services: key to more than 150,000 charge spots throughout Europe

Stuttgart, Germany – Fuss-free recharging. In a nutshell, there is nothing drivers of electric cars want more. They want to quickly find a vacant charge spot, access it without the hassle of authorization and passwords, pay for the electricity without fuss, and make good use of the time it takes to recharge. In reality, the… Continue reading Bosch recharging services: key to more than 150,000 charge spots throughout Europe

Lear Corporation — Moody’s confirms Lear’s ratings, senior unsecured at Baa2, outlook negative

Moody’s Investors Service confirmed the senior unsecured rating of Lear Corporation (Lear) at Baa2. The confirmation of Lear’s Baa2 senior unsecured debt rating incorporates the company’s solid competitive positions as the second largest global supplier of automotive seating and a major global supplier of electrical systems through its E-Systems segment. Go to Source

BorgWarner Inc. — Moody’s confirms BorgWarner’s ratings, senior unsecured at Baa1, negative outlook

Moody’s Investors Service, (“Moody’s”) confirmed the senior unsecured rating of BorgWarner, Inc. (“BorgWarner”), at Baa1, and the short-term rating is affirmed at Prime-2. The confirmation of BorgWarner’s Baa1 ratings reflect Moody’s belief that the company’s metrics and credit profile will be solidly positioned by the second half of 2021 as global automotive production recovers from… Continue reading BorgWarner Inc. — Moody’s confirms BorgWarner’s ratings, senior unsecured at Baa1, negative outlook

Hyundai Mobis Co., Ltd. — Moody’s confirms Hyundai Motor, Kia and Hyundai Mobis’ Baa1 ratings; outlook negative

Moody’s Investors Service has confirmed the Baa1 issuer ratings of Hyundai Motor Company (HMC), Kia Motors Corporation (Kia) and Hyundai Mobis Co., Ltd., as well as the Baa1 senior unsecured rating of Kia. The outlooks on all ratings have changed to negative from ratings under review. Go to Source