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Aptiv Spin-Off Units Begin $1.5 Billion Senior Notes Offering

BY MT Newswires | CORPORATE | 09:30 AM EST

09:30 AM EST, 03/04/2026 (MT Newswires) -- Aptiv (APTV) said Wednesday its electrical distribution systems spin-off units began a private offering of $1.5 billion in senior notes due 2031 and 2034.

The notes are being issued by Cyprium Corporation and Cyprium Holdings Luxembourg, subsidiaries of Versigent, the holding company formed for Aptiv's (APTV) electrical distribution systems business that is planned to be separated through a distribution to shareholders, according to the company.

Aptiv (APTV) said the issuers also entered into an $850 million senior secured revolving credit facility and a $500 million senior secured term loan facility as part of related financing arrangements.

The company said that after the separation, proceeds from the notes and borrowings under the term loan will be used to fund a dividend to Aptiv (APTV), with Versigent expected to keep $300 million in cash following the payment of that dividend and transaction expenses.

The retained funds will be used for general corporate purposes, while the note proceeds will be held in escrow until certain conditions tied to the spin-off are met, Aptiv (APTV) said.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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