Sensata Technologies increases term loan B size by $100 million

By Sara Rosenberg

New York, Dec. 6 - Sensata Technologies BV upsized its senior secured term loan B due May 12, 2019 to $475.25 million from $375.25 million through the addition of a $100 million fungible add-on, according to a market source.

Pricing on the term loan B is still Libor plus 250 basis points with a 0.75% Libor floor and a par offer price, and there is still 101 soft call protection for six months.

Morgan Stanley Senior Funding Inc. is the lead arranger and bookrunner on the deal.

Proceeds from the add-on will be used for general corporate purposes. The remaining portion of the loan will be used to reprice and extend an existing term loan B due May 12, 2018 that is priced at Libor plus 275 bps with a 1% Libor floor.

Recommitments were due on Friday.

Allocations are targeted to go out on Monday, the source added.

Closing is expected on Wednesday.

Sensata is an Attleboro, Mass.-based designer and manufacturer of sensors and controls.

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