Company: APTV
Filing Date: 2025-02-07
Form Type: 10-K
Source: 0001521332-25-000010
Chunk: 107

Company: Aptiv PLC
Filing Date: 2025-02-07
Form: 10-K
Item: Item 7
Chunk 107
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 Aptiv in accordance with the terms of the Term Loan A Credit Agreement (or other period as may be agreed by the applicable lenders). Aptiv may elect to change the selected interest rate option in accordance with the provisions of the Term Loan A Credit Agreement. As of December 31, 2024, Aptiv selected the one-month SOFR interest rate option on the Term Loan A, and the rate effective as of December 31, 2024, as detailed in the table below, was based on the Company’s current credit rating and the Term Loan Applicable Rate for the Term Loan A Credit Agreement:Borrowings as ofTerm LoanDecember 31, 2024Rates effective as ofApplicable Rate(in millions)December 31, 2024Term Loan ASOFR plus 1.25%$250 5.72 %

The Term Loan A Credit Agreement contains certain covenants that limit, among other things, the Company’s (and the Company’s subsidiaries’) ability to incur certain additional indebtedness or liens or to dispose of substantially all of its assets. In addition, the Term Loan A Credit Agreement requires that the Company maintain a consolidated leverage ratio (the ratio of Consolidated Total Indebtedness to Consolidated EBITDA, each as defined in the Term Loan A Credit Agreement) of not more than 3.5 to 1.0 (or 4.0 to 1.0 for four full fiscal quarters following completion of material acquisitions, as defined in the Term Loan A Credit Agreement).

The Term Loan A Credit Agreement also contains events of default customary for financings of this type. The Company was in compliance with the Term Loan A Credit Agreement covenants as of December 31, 2024.

As of December 31, 2024, all obligations under the Term Loan A Credit Agreement were borrowed by AGF DAC and jointly and severally guaranteed by Aptiv PLC, Aptiv Corporation and Aptiv Swiss Holdings.

Senior and Junior Unsecured Notes

As of December 31, 2024, the Company had the following senior and junior unsecured notes issued and outstanding:

Aggregate Principal Amount(in millions)Stated Coupon RateIssuance DateMaturity DateInterest Payment Date$520 1.60%September 2016September 2028September 15$300 4.35%March 2019March 2029March 15 and September 15$550 4.65%September 2024September 2029March 13 and