Garrett Motion Inc. Announces Proposed Private Offering of $500M of Senior Notes Due 2032
Portfolio Pulse from Benzinga Newsdesk
Garrett Motion Inc. (GTX) announced a proposed private offering of $500M of senior unsecured notes due 2032 to repay term loan indebtedness and cover related fees. The notes, guaranteed by GTX and its subsidiaries, aim to improve the company's financial structure.

May 06, 2024 | 11:53 am
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Garrett Motion Inc. is issuing $500M in senior notes to refinance existing debt, which could improve its financial health and potentially its credit rating.
By refinancing existing debt with the proceeds from the senior notes offering, GTX aims to improve its balance sheet and reduce interest expenses. This strategic financial maneuver is likely to be viewed positively by investors, as it could enhance the company's financial stability and potentially lead to a better credit rating. However, the impact on the stock price will depend on market conditions and investor perception of the company's long-term prospects.
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