Davis Polk advised Clarios International LP, formerly the Power Solutions business of Johnson Controls International plc, in connection with a Rule 144A/Regulation S offering of $500 million aggregate principal amount of its 6.750% senior secured notes due 2025 issued by its wholly owned subsidiaries, Clarios Global LP and Clarios US Finance Company, Inc. The issuers intend to use the net proceeds from the offering of the notes for general corporate purposes.

Clarios is one of the largest manufacturers and distributors of low voltage, advanced automotive battery technologies in the world. It provides one in every three automotive lead-acid batteries globally, servicing cars, heavy-duty trucks, motorcycles, marine and power sports vehicles. Clarios manufactured more than 150 million lead-acid batteries in 2019 and distributed their batteries to customers in over 130 countries, offering best-in-class electrical performance, cycling and functional safety.

The Davis Polk capital markets team included partners Michael Kaplan and Derek Dostal and associates Stephen A. Byeff, Claudia Carvajal Lopez and Dylan H. Lojac. The finance team included partners Sartaj Gill and Hilary Dengel and associates Jack Orford and Michael Katz. The tax team included counsel Ethan R. Goldman. All members of the Davis Polk team are based in the New York office.