Lear

(LEA) - Get Report

accepted 91% of its outstanding notes due 2022 in a tender offer that closed Wednesday.

The company paid $276.8 million from a cash collateral account created in connection with its primary credit facility.

Noteholders received $475 cash in exchange for each $1,000 principal amount at maturity of notes validly tendered and accepted for payment.

Lear also got permission from the noteholders to ease restrictions governing the company's ability to incur liens and enter into sale leaseback transactions.

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