BorgWarner Inc. Issues Senior Notes Due 2031

TL;DR

BorgWarner just took on new debt with senior notes due 2031.

AI Summary

On August 7, 2024, BorgWarner Inc. entered into a material definitive agreement related to the issuance of senior notes due 2031. This agreement creates a direct financial obligation for the company, impacting its balance sheet and future financial commitments.

Why It Matters

This filing indicates BorgWarner is taking on new long-term debt, which could affect its financial leverage and future investment capacity.

Risk Assessment

Risk Level: medium — Issuing new debt increases financial leverage and obligations, which can be a medium-risk event depending on the amount and the company's ability to service the debt.

Key Players & Entities

• BorgWarner Inc. (company) — Registrant
• August 7, 2024 (date) — Date of earliest event reported
• Senior Notes Due 2031 (financial_obligation) — New debt issuance

FAQ

From the Filing

0001104659-24-087315.txt : 20240808 0001104659-24-087315.hdr.sgml : 20240808 20240808163651 ACCESSION NUMBER: 0001104659-24-087315 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 19 CONFORMED PERIOD OF REPORT: 20240807 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240808 DATE AS OF CHANGE: 20240808 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BORGWARNER INC CENTRAL INDEX KEY: 0000908255 STANDARD INDUSTRIAL CLASSIFICATION: MOTOR VEHICLE PARTS & ACCESSORIES [3714] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 133404508 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-12162 FILM NUMBER: 241189092 BUSINESS ADDRESS: STREET 1: 3850 HAMLIN RD. CITY: AUBURN HILLS STATE: MI ZIP: 48326 BUSINESS PHONE: 2487549200 MAIL ADDRESS: STREET 1: 3850 HAMLIN RD. CITY: AUBURN HILLS STATE: MI ZIP: 48326 FORMER COMPANY: FORMER CONFORMED NAME: BORG WARNER AUTOMOTIVE INC DATE OF NAME CHANGE: 19930628 8-K 1 tm2415069d7_8k.htm FORM 8-K false 0000908255 0000908255 2024-08-07 2024-08-07 0000908255 us-gaap:CommonStockMember 2024-08-07 2024-08-07 0000908255 bwa:SeniorNotesDue2031Member 2024-08-07 2024-08-07 iso4217:USD xbrli:shares iso4217:USD xbrli:shares     UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549   FORM 8-K   CURRENT REPORT   Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934   Date of Report (Date of earliest event reported): August 7, 2024   BORGWARNER INC.   (Exact name of registrant as specified in its charter)   Delaware   1-12162   13-3404508 ( State or other jurisdiction of   ( Commission File No.)   (I.R.S. Employer i ncorporation or organization )       Identification No.)   3850 Hamlin Road , Auburn Hills , Michigan   48326 (Address of principal executive offices)   (Zip Code)   Registrant’s telephone number, including area code: ( 248 ) 754-9200   (Former name or former address, if changed since last report)   Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:   ¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)     ¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)     ¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))     ¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))   Securities registered pursuant to Section 12(b) of the Act:   Title of each class   Trading Symbol(s)   Name of each exchange on which registered  Common Stock, par value $0.01 per share   BWA   New York Stock Exchange 1.00% Senior Notes due 2031   BWA31   New York Stock Exchange   Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 ( § 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 ( § 240.12b-2 of this chapter).   Emerging growth company ¨   If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨             Item 1.01 Entry Into a Material Definitive Agreement.   On August 7, 2024, BorgWarner Inc. (“BorgWarner&