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UNITED STATES

 

SECURITIES AND EXCHANGE COMMISSION

 

Washington, D.C. 20549

 

_____________________________________________________________________________________________________________________

 

FORM 8-K

________________________________________________________________________________________________________________________

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported):

 

November 9, 2021

 

________________________________________________________________________________________________________________________

 

Aptiv PLC

(Exact name of registrant as specified in its charter)

 

________________________________________________________________________________________________________________________

 

 

Jersey 001-35346 98-1029562

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)

 

5 Hanover Quay

Grand Canal Dock

Dublin, D02 VY79, Ireland

(Address of Principal Executive Offices, Including Zip Code)

 

(Registrant’s Telephone Number, Including Area Code) 353-1-259-7013

 

(Former Name or Former Address, if Changed Since Last Report) N/A

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading symbol(s)   Name of each exchange on which registered
Ordinary Shares, $0.01 par value per share   APTV   New York Stock Exchange
5.50% Mandatory Convertible Preferred Shares, Series A, $0.01 par value per share   APTV PRA   New York Stock Exchange
1.500% Senior Notes due 2025   APTV   New York Stock Exchange
4.250% Senior Notes due 2026   APTV   New York Stock Exchange
1.600% Senior Notes due 2028   APTV   New York Stock Exchange
4.350% Senior Notes due 2029   APTV   New York Stock Exchange
4.400% Senior Notes due 2046   APTV   New York Stock Exchange
5.400% Senior Notes due 2049   APTV   New York Stock Exchange

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 

 

 

 

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

 

 

 

 

  

 

 

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