Lear Prices Unsecured Notes

Lear a supplier of automotive seating and electrical systems, said late Monday it has priced a public offering of $750 million of 3.80% senior unsecured notes due 2027.The offering is expected to close on Aug. 17.

Lear said it expects the net proceeds of $738.5 million. It intends to use proceeds in part to redeem $500 million of 4.75% senior notes due 2023. The remaining net proceeds will be used to repay amounts outstanding under a new revolving credit facility and for general corporate purposes.

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