Aptiv's Versigent Upsizes $1.6B Debt Offering

Aptiv PLC announced that its subsidiaries, Cyprium Corporation and Cyprium Holdings Luxembourg S.à r.l., which are part of the soon-to-be-spun-off Aptiv===Versigent Limited, have priced an upsized private offering of $1.6 billion in senior notes. This includes $800 million of 6.125% senior notes due 2031 and $800 million of 6.375% senior notes due 2034. The offering size was increased by $100 million from the initial $1.5 billion. Additionally, the co-issuers have entered into an $850 million senior secured revolving credit facility and a $500 million senior secured term loan credit facility. The offering is expected to close on March 18, 2026. Upon completion of the spin-off, the proceeds from the notes and term loan will be used to fund a dividend to Aptiv, with Aptiv===Versigent retaining $400 million for general corporate purposes. The notes are being offered to qualified institutional buyers and international investors, exempt from U.S. Securities Act registration.