Aptiv PLC (APTV, Financial), a global technology company, has announced a strategic merger involving its subsidiaries, Aptiv Swiss Holdings Limited and Aptiv Irish Holdings Limited. The merger, effective December 19, 2024, was approved by shareholders earlier this month and marks a significant restructuring within the company's financial framework.
As part of the merger, Aptiv Swiss Holdings, now the surviving entity, has entered into a Thirteenth Supplemental Indenture. This agreement involves Aptiv Swiss Holdings assuming the obligations of Aptiv Irish Holdings concerning several outstanding senior notes. These notes include a €500 million principal amount of 1.60% Euro-denominated Senior Notes due 2028, and various other notes with maturities extending up to 2054, totaling billions in principal amounts.
Additionally, Aptiv Swiss Holdings has entered into a Third Supplemental Indenture, assuming obligations related to $500 million of 6.875% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2054. This move is part of Aptiv's broader strategy to streamline its financial operations and enhance its capital structure.
This restructuring is expected to provide Aptiv PLC with greater financial flexibility and strengthen its position in the global market. Investors and stakeholders will be closely monitoring the impact of these changes on the company's financial health and strategic direction.
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