Sensata Technologies Enters Material Definitive Agreement

TL;DR

Sensata just signed a big financial deal, filing an 8-K today.

AI Summary

On June 6, 2024, Sensata Technologies Holding plc entered into a material definitive agreement related to financial obligations. The company, previously known as Sensata Technologies Holding N.V. and Sensata Technologies Holding B.V., filed this 8-K report to disclose these events.

Why It Matters

This filing indicates a significant financial event for Sensata Technologies, potentially impacting its debt structure or other financial commitments.

Risk Assessment

Risk Level: medium — Entering into material definitive agreements, especially those creating financial obligations, can introduce financial risks or opportunities that warrant investor attention.

Key Players & Entities

• Sensata Technologies Holding plc (company) — Filer
• Sensata Technologies Holding N.V. (company) — Former Company Name
• Sensata Technologies Holding B.V. (company) — Former Company Name
• June 6, 2024 (date) — Date of Report

FAQ

Key Financial Figures

• $500.0 million — any, completed the issuance and sale of $500.0 million aggregate principal amount of STI's 6.6
• $700.0 million — that STBV intends to redeem in full all $700.0 million in aggregate principal amount of the 20

Filing Documents

• st-20240606.htm (8-K) — 50KB
• sensata-indenture2024notes.htm (EX-4.1) — 881KB
• sensata-pressreleasererede.htm (EX-99.1) — 7KB
• image_0a.jpg (GRAPHIC) — 65KB
• 0001477294-24-000098.txt ( ) — 1332KB
• st-20240606.xsd (EX-101.SCH) — 2KB
• st-20240606_def.xml (EX-101.DEF) — 15KB
• st-20240606_lab.xml (EX-101.LAB) — 26KB
• st-20240606_pre.xml (EX-101.PRE) — 15KB
• st-20240606_htm.xml (XML) — 3KB

01 Entry Into a Material Definitive Agreement

Item 1.01 Entry Into a Material Definitive Agreement. On June 6, 2024 (the "Closing Date"), Sensata Technologies, Inc. ("STI"), an indirect, wholly owned subsidiary of the Company, completed the issuance and sale of $500.0 million aggregate principal amount of STI's 6.625% senior notes due 2032 (the "Notes"). We intend to use the net proceeds from the issuance and sale of the Notes, together with cash on hand, for the redemption in full of the 5.000% senior notes due 2025 (the "2025 Notes") issued by Sensata Technologies B.V. ("STBV"), an indirect, wholly owned subsidiary of the Company. Indenture The Notes were issued pursuant to an indenture, dated as of the Closing Date (the "Indenture"), among STI, the guarantors named therein (the "Guarantors"), and The Bank of New York Mellon, as trustee (the "Trustee"). Interest and Maturity The Notes bear interest at a rate of 6.625% per annum and mature on July 15, 2032. Interest is payable on the Notes on January 15 and July 15 of each year, commencing on January 15, 2025. Guarantees As of the Closing Date, STI's obligations under the Notes are guaranteed by STBV and each of STBV's wholly owned subsidiaries (other than STI) that is a Guarantor under STI's senior secured credit facilities (the "Senior Credit Facilities") and the following existing senior notes (collectively, the "Existing Notes"): STI's 4.375% senior notes due 2030 and 3.750% senior notes due 2031 and STBV's 4.000% senior notes due 2029 and 5.875% senior notes due 2030. The Notes are STI's, and the guarantees are the Guarantors', senior unsecured obligations and rank equally in right of payment to all existing and future senior indebtedness of STI or the Guarantors, respectively, including indebtedness under the Senior Credit Facilities, the Existing Notes and the 2025 Notes. The Notes and the guarantees rank senior in right of payment to all of STI's and the Guarantors' future indebtedness and other obligations that expressly provide for their sub

03 Material Modification to Rights of Security Holders

Item 3.03 Material Modification to Rights of Security Holders. The information set forth in Item 1.01 above is incorporated by reference into this Item 3.03. 3

01 Other Events

Item 8.01 Other Events. On June 6, 2024, the Company issued a press release announcing that STBV intends to redeem in full all $700.0 million in aggregate principal amount of the 2025 Notes (CUSIP Nos. 81725W AJ2 and N78840 AL4) on July 15, 2024 (the "Redemption"). The Redemption will be made in accordance with the terms of the indenture governing the 2025 Notes and the terms of the notice of redemption that is being sent to all registered holders of the 2025 Notes by the trustee for the 2025 Notes. The press release is attached hereto as Exhibit 99.1 and incorporated by reference herein.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 4.1 Indenture, dated as of June 6, 2024, among Sensata Technologies, Inc., the Guarantors named therein, and The Bank of New York Mellon, as Trustee. 99.1 June 6, 2024 press release entitled "Sensata Technologies Holding plc Announces Upcoming Redemption of 5.000% Senior Notes due 2025 by Sensata Technologies B.V." 104 Cover Page Interactive Data File (embedded within inline XBRL document) 4

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. SENSATA TECHNOLOGIES HOLDING PLC /s/ Brian Roberts Date: June 6, 2024 Name: Brian Roberts Title: Executive Vice President and Chief Financial Officer 5

View Full Filing

View this 8-K filing on SEC EDGAR