Motherson Sumi Systems announced that its material subsidiary, Samvardhana Motherson Automotive Systems Group B.V., Netherland had commenced a tender offer on 20 October 2020 for SMRP BV's outstanding 4.875% Senior Secured Notes due 2021.
Following the Tender Offer, out of U.S. $400 million in total aggregate principal amount of Notes issued, SMRP BV has either redeemed or repurchased a total U.S.$ 392.6 million (approximately) in aggregate principal amount of Notes to date.
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