Aptiv said on August 19, 2024 that it and certain of its subsidiaries entered into a new senior unsecured term loan A credit agreement of $600 million with JPMorgan Chase Bank, N.A. as administrative agent.

1. 01

   Aptiv said on August 19, 2024 that it and certain of its subsidiaries entered into a new senior unsecured term loan A credit agreement of $600 million with JPMorgan Chase Bank, N.A. as administrative agent.

2. 02

   The company said it used the proceeds of the term loan A to partially refinance the senior unsecured bridge facility of $2,500 million that it borrowed on August 1, 2024.

3. 03

   It said the term loan A borrowings mature on August 19, 2027 and bear interest at term SOFR plus an applicable rate of 100 basis points to 175 basis points per annum, depending on its long-term debt ratings.

4. 04

   The company said the term loan A contains customary representations, warranties, affirmative and negative covenants and events of default, and that if an event of default occurs and is continuing, the outstanding principal and accrued unpaid interest and other amounts owed may be declared immediately due and payable.

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