Garrett Motion Holdings Inc, founded in 2018 and headquartered in Rolle, Switzerland, specializes in advanced technologies in the automotive sector, primarily focusing on providing turbochargers and electrified boosting solutions. The company aims to enhance engine performance, fuel efficiency, and reduce emissions through innovative engineering and manufacturing.
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Company overview and issue history are AI generated, and should not be cited or relied on without verification.
Garrett Motion first began issuing bonds shortly after its founding, with notable bond offerings in 2019 that supported its emergence from a previous parent company bankruptcy. Since then, it has launched several significant bond issuances, including a $1.1 billion offering in 2021, primarily for debt refinancing and working capital. The company’s current bonds yield approximately 6.5%, which is competitive within the auto parts industry, enhancing investor interest. Notably, Garrett’s bonds include features such as call options and fixed coupons, providing additional liquidity and security to bondholders. In recent news, the company announced plans to evaluate market conditions for future issuances as it seeks to strengthen its balance sheet further.