Aptiv lifted the size of its cash tender offer by $21 million, increasing the maximum aggregate consideration to $1.371 billion from $1.35 billion, after early tenders showed strong participation across all seven note series.
By the early tender deadline, holders had submitted $2.46 billion of notes against $4.63 billion outstanding across the targeted bonds. The largest response came in Aptiv’s 3.100% senior notes due 2051, where $691.9 million was tendered out of $1.5 billion outstanding. The 4.150% senior notes due 2052 drew $415.1 million of tenders against $1.0 billion outstanding.
Other series also saw substantial participation: $447.6 million of the 3.250% senior notes due 2032 was tendered from $717.2 million outstanding; $367.0 million of the 5.150% senior notes due 2034 from $515.9 million outstanding; and $302.3 million of the 5.750% senior notes due 2054 from $550.0 million outstanding. The 5.400% senior notes due 2049 drew $123.5 million of tenders from $350.0 million outstanding, while the 4.400% senior notes due 2046 attracted $111.7 million from $300.0 million outstanding.
Aptiv said the tender remains subject to the planned separation of its electrical distribution systems business into Versigent and a special dividend from that business of at least $1.7 billion. Settlement is currently expected on April 7, 2026. As a result of these announcements, the company's shares have moved -4.84% on the market, and are now trading at a price of $78.61. Check out the company's full 8-K submission here.
