BorgWarner raises tender offer cap to $730M, buys back debt

BorgWarner Inc. (NYSE: BWA) announced the final results of its cash tender offers for several series of senior notes, increasing the total Waterfall Cap to $730 million, excluding accrued interest payments.

The tender offers expired at 5:00 p.m. New York City time on Aug. 14, 2026. According to Global Bondholder Services Corporation, the tender and information agent, the following principal amounts were tendered and accepted across the note series:

The 7.125% Senior Notes due 2029, offered on an any-and-all basis, saw $27,105,000 tendered and fully accepted at a consideration of $1,061.70 per $1,000 principal. The 4.375% Senior Notes due 2045 (Acceptance Priority Level 1) had $130,482,000 tendered and fully accepted at $827.77 per $1,000. The 5.400% Senior Notes due 2034 (Priority Level 2) saw $339,547,000 tendered and fully accepted at $1,019.75 per $1,000. The 4.950% Senior Notes due 2029 (Priority Level 3) had $291,426,000 tendered, with $272,772,000 accepted at $1,010.87 per $1,000. The 2.650% Senior Notes due 2027 (Priority Level 4), which carried a $250,000,000 sub-cap, saw $300,008,000 tendered but none accepted.

BorgWarner also increased the amount of 4.950% Notes accepted for payment by 2% of the outstanding balance without amending or extending the offer.

Holders whose notes were accepted will receive accrued interest payments on the applicable settlement date. Notes tendered but not accepted will be returned to holders. Barclays Capital Inc. and PNC Capital Markets LLC served as dealer managers for the tender offers.

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