Meritor Announces Pricing of $225M of Senior Unsecured Notes

Meritor

today announced the pricing of its senior unsecured notes in an aggregate principal amount of $225 million in an underwritten registered public offering (the "notes"). The $225 million of notes will mature on Feb. 15, 2024 and will bear interest at an annual rate of 6-1/4%. The offering is expected to close on Feb. 13, 2014, subject to customary closing conditions. Meritor intends to use the net proceeds from the offering to fund a portion of the redemption of the $250 million aggregate principal amount outstanding of its 10-5/8% notes due 2018. J.P. Morgan, BofA Merrill Lynch, Citigroup, RBC Capital Markets and RBS are acting as joint book-running managers for the offering. This press release is not an offer to sell and is not soliciting an offer to buy any of the notes, nor shall there be any offer or sale of the notes in any jurisdiction where the offer or sale is not permitted. An effective shelf registration statement related to the notes has previously been filed by Meritor with the Securities and Exchange Commission. The offering of notes is being made by means of a prospectus supplement and accompanying prospectus. Copies of the prospectus supplement and the accompanying prospectus can be obtained from: