We advised Aptiv on the SEC-registered offerings of senior notes and fixed-to-fixed reset rate junior subordinated notes

Davis Polk advised Aptiv PLC in connection with an SEC-registered offering of $550 million aggregate principal amount of 4.650% senior notes due 2029, $550 million aggregate principal amount of 5.150% senior notes due 2034 and $550 million aggregate principal amount of 5.750% senior notes due 2054. The notes were co-issued by Aptiv PLC and Aptiv Global Financing Designated Activity Company, a subsidiary of Aptiv PLC, and are guaranteed by Aptiv Corporation, a subsidiary of Aptiv PLC.

Davis Polk also advised Aptiv in connection with a concurrent SEC-registered offering of $500 million aggregate principal amount of 6.875% fixed-to-fixed reset rate junior subordinated notes due 2054. The notes were co-issued by Aptiv PLC and Aptiv Global Financing Designated Activity Company and are guaranteed by Aptiv Corporation.

Aptiv intends to use the net proceeds from the concurrent offerings to redeem in full its outstanding 2.396% senior notes due 2025 and, together with cash on hand, to repay the borrowings outstanding under its bridge credit agreement.

Aptiv is a global technology company that develops safer, greener and more connected solutions enabling a more sustainable future of mobility.

The Davis Polk capital markets team included partners Michael Kaplan and Roshni Banker Cariello and associates Dennis Chu, Dylan H. Lojac and Jee Young Kim. The tax team included partner Michael Mollerus and associates William Liang and David J. Beer. Counsel David A. Zilberberg provided environmental advice. All members of the Davis Polk team are based in the New York office.

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