Aptiv announces pricing terms for $1.37 billion debt tender offer

Aptiv PLC (NYSE: APTV) announced pricing terms for its cash tender offer to purchase up to $1.37 billion of outstanding debt securities through its subsidiary Aptiv Swiss Holdings Limited.

The tender offer targets eight series of senior notes with maturities ranging from 2032 to 2054. The highest priority series includes $717.2 million of 3.250% notes due 2032, priced at $940.93 per $1,000 principal amount. The offer includes an early tender premium of $30 per $1,000 principal amount for notes tendered before the early deadline.

Total consideration varies by series, with the 5.150% notes due 2034 receiving the highest pricing at $1,023.34 per $1,000 principal amount. Two series have purchase caps of $100 million each: the 4.150% notes due 2052 and 3.100% notes due 2051.

The tender offer expires at 5:00 p.m. New York time on April 3, 2026, with settlement expected April 7, 2026. The offer is conditional on completion of Aptiv's planned spinoff of its Electrical Distribution Systems business into a new company called Versigent, along with receipt of at least $1.7 billion in special dividends from the spinoff.

Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, and J.P. Morgan Securities LLC serve as dealer managers. Global Bondholder Services Corporation acts as tender and information agent.

The technology company focuses on automated, electrified and digitalized solutions across multiple end-markets. Information is based on a company press release statement.

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