Aptiv (APTV) Soon-to-Spinoff Subsidiary Prices $1.6B Debt Offering

Aptiv PLC’s Electrical Distribution Systems segment, Versigent, has priced a $1.6 billion private offering of senior notes for its upcoming spinoff. This debt offering, which increased by $100 million from the initial plan, includes 6.125% notes due 2031 and 6.375% notes due 2034, alongside credit facilities. The proceeds will fund a dividend to Aptiv PLC, with Versigent retaining $400 million for general corporate purposes post-spinoff.