Adient Global Holdings Ltd (Adient Global Holdings), a subsidiary of automotive seating manufacturer Adient plc (Adient), completed a $795 million offering of 7.500% Senior Unsecured Notes due 2033 under Rule 144A/Regulation S. The proceeds from the offering will be used to redeem $795 million of Adient Global Holdings’ existing 4.875% Senior Unsecured Notes due 2026 and pay fees and expenses in connection with the foregoing.
Ireland-based Adient has 70,000 employees in 29 countries and operates more than 200 manufacturing plants worldwide and produces and delivers automotive seating for all major OEMs.
The S&C team that worked on the transaction included John Estes, Courtland Morrice, Nick Baker and Sam Xu. Eleanor Chafer and Irene Bedmar-Gomez advised on UK law matters and assisted in connection with local law matters across several jurisdictions. Eric Wang and Saul Brander advised on U.S. tax matters. Andrew Thomson and Isadora Janssen advised on UK tax matters. Kirsten Rodger and Jenna Park advised on UK capital markets matters. Eric Kadel advised on sanctions matters. Saul Brander advised on ERISA matters. Scott Kim provided valuable assistance.