Aptiv PLC 8-K, filed Nov 9, 2021
Aptiv PLC (APTV)
About this 8-K
Aptiv PLC filed this 8-K on November 9, 2021.
Items reported
- Item 2.04: Debt obligation accelerated or increased
- Item 8.01: Other events
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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CURRENT REPORT
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| Item 2.04 | Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement. |
| Item 8.01 | Other Events. |
On November 9, 2021, Aptiv PLC (the “Company” or “Aptiv”), announced that it intends to redeem for cash the entire $700 million aggregate principal amount outstanding of its subsidiary Aptiv Corporation’s 4.15% Senior Notes due 2024 (the “2024 Notes”) and the entire $650 million aggregate principal amount outstanding of the Company’s 4.25% Senior Notes due 2026 (the “2026 Notes” and, together with the 2024 Notes, the “Notes”). The Notes are each redeemable at a redemption price that includes a make-whole premium, plus any interest accrued and unpaid to the redemption date. The redemption is expected to occur on November 24, 2021, subject to satisfaction or waiver by the Company of the condition described below.
The redemption of the Notes is conditioned upon the completion, prior to the redemption date, of one or more debt financings that would generate gross proceeds sufficient to fund the redemption. Any such financings are subject to market and other conditions.
Forward-Looking Statements
This Current Report on Form 8-K contains forward-looking statements within the meaning of the Securities Act of 1933 and of the Securities Exchange Act of 1934. Such forward-looking statements include, but are not limited to, those related to the financing and completion of the redemption of the Notes and the completion of the offering of the new financing described herein. These forward-looking statements reflect, when made, the Company’s current views with respect to current events, the proposed redemption of the Notes and new financing, and financial performance, including the uncertainties posed by the COVID-19 pandemic and the difficulty in predicting its future course and its impact on the global economy and the Company’s future operations and the potential disruptions in the supply of and changes in the competitive environment for raw material and other materials integral to the Company’s products, including the current semiconductor supply shortage on the Company’s future operations and balance sheet. Such forward-looking statements are subject to many risks, uncertainties and factors relating to the Company’s operations and business environment, which may cause the actual results of the Company to be materially different from the expectations set forth in this Current Report on Form 8-K. All statements that address future operating, financial or business performance or the Company’s strategies or expectations are forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements are discussed under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s filings with the Securities and Exchange Commission. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect the Company. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events and/or otherwise, except as may be required by law.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: | November 9, 2021 | APTIV PLC | ||
| By: | /s/ Katherine H. Ramundo | |||
| Katherine H. Ramundo | ||||
| Senior Vice President, Chief Legal Officer, Chief Compliance Officer and Secretary | ||||