Filed Pursuant to Rule 424(b)(5)
Registration No. 333-281182
The information in this preliminary prospectus supplement is not
complete and may be changed. A registration statement relating to these securities has been filed with the Securities and Exchange Commission and is effective. This preliminary prospectus supplement and the accompanying prospectus are not an offer
to sell these securities and they are not soliciting an offer to buy these securities in any jurisdiction where the offer or sale is not permitted.
SUBJECT TO COMPLETION, DATED SEPTEMBER 9, 2024
Preliminary Prospectus Supplement
(To Prospectus dated
August 1, 2024)
|
|
|
Aptiv PLC |
|
Aptiv Global Financing Designated Activity Company |
$ %
Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 20
Aptiv PLC, a public limited
company incorporated under the laws of Jersey (the Issuer), and Aptiv Global Financing Designated Activity Company (formerly known as Aptiv Global Financing Limited), incorporated in Ireland and an indirect subsidiary of Aptiv PLC (the Co-Obligor and, together with Aptiv PLC, the Issuers), are offering $ of % Fixed-to-Fixed
Reset Rate Junior Subordinated Notes due 20 (the Notes). The Notes will bear interest (i) from and including the date of original issuance to, but excluding, , 20 at an annual rate of % and
(ii) from and including , 20 , during each Interest Reset Period (as defined herein) at an annual rate equal to the Five-Year Treasury Rate (as defined in herein) as of the most recent Reset Interest Determination Date (as
defined herein), plus %. The Notes will mature on , 20 . Interest on the Notes will, subject to our right to defer interest payments (as described below), be payable semi-annually in arrears
on and of each year, beginning on , 2025. See Description of NotesPrincipal, Maturity and Interest
So long as no Event of Default (as defined herein) with respect to the Notes has occurred and is continuing, we may, at our option, defer interest payments on
the Notes on one or more occasions, from time to time, for up to 20 consecutive semi-annual Interest Payment Periods (as defined herein). During any deferral period, interest on the Notes will continue to accrue at the then-applicable interest rate
on the Notes, and, in addition, interest on deferred interest will accrue at the then-applicable interest rate on the Notes, compounded semi-annually, to the extent permitted by applicable law, as described in this prospectus supplement. See
Description of NotesOption to Defer Interest Payments.
The Issuers may, at their option, redeem all or part of the Notes at the times and
at the redemption prices described herein. See Description of NotesRedemption. In addition, the Issuers may, at their option, redeem all, but not a part, of the Notes at any time in the event of certain developments affecting
taxation as described herein. See Description of NotesRedemptionTax Redemption.
The obligations under the Notes will initially be
fully and unconditionally guaranteed by Aptiv Corporation, a Delaware corporation and an indirect subsidiary of Aptiv PLC (the Guarantor). The Notes and the guarantee will be general unsecured and subordinated obligations of the Issuers
and the Guarantor, respectively, and will rank (a) junior and subordinate in right of payment with all of the Issuers and the Guarantors respective existing and future Senior Indebtedness (as defined herein), including all of Aptiv
PLCs outstanding notes, which are also issued or guaranteed by Aptiv Corporation and Aptiv Global Financing Designated Activity Company, and borrowings under Aptivs credit facilities, and (b) equal in right of payment with all of
the Issuers and the Guarantors respective future unsecured indebtedness that may be incurred from time to time if the terms of such indebtedness provide that it ranks equally with the Notes in right of payment. The Notes and the
guarantee will be effectively subordinated to any of the Issuers and the Guarantors respective future secured debt to the extent of the value of the collateral securing such indebtedness. The Notes will be structurally subordinated to
all liabilities of the Issuers respective subsidiaries (other than the Guarantor). See Description of NotesRanking; Subordination.
Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this
prospectus is truthful or complete. Any representation to the contrary is a criminal offense.
Investing in the Notes
involves risks. See Risk Factors beginning on page S-8 of this prospectus supplement, as well as the risks set forth in our other filings with the Securities and
Exchange Commission that are incorporated by reference in this prospectus supplement and the accompanying prospectus.
The Issuers intend to apply to
list the Notes on the New York Stock Exchange (the NYSE). If such a listing is obtained, the Issuers will have no obligation to maintain such listing, and the Issuers may delist the Notes at any time. There is currently no established
trading market for the Notes.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Price to Public (1) |
|
|
Underwriting Discount |
|
|
Proceeds to the Issuers, Before Expenses |
|
Per Note |
|
|
|
% |
|
|
|
% |
|
|
|
% |
Total |
|
$ |
|
|
|
$ |
|
|
|
$ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) |
Plus accrued interest from , 2024, if settlement occurs after that date.
|
The Issuers expect that delivery of the Notes will be made to investors in book-entry form only through the facilities of The Depository
Trust Company and its participants, including Clearstream Banking, société anonyme (Clearstream) and Euroclear Bank SA/NV (Euroclear), on or about , 2024.
Joint Book-Running Managers
|
|
|
|
|
J.P. Morgan |
|
Goldman Sachs & Co. LLC |
, 2024