Aptiv PLC (APTV) in Dublin, Ireland, designs, manufactures, and distributes car components worldwide. The company delivers electrical, electronic, and safety technology solutions to the automotive and commercial vehicle sectors. The company's shares are down 30.7% in price over the past year and 42.5% year-to-date, closing yesterday's trading session at $94.93.
In February, the company priced $700 million of 2.4% senior notes due 2025, $800 million of 3.250% senior notes due 2032, and $1 billion of 4.15% senior notes due 2052. The notes are being issued in conjunction with Aptiv Corporation, an indirect subsidiary of the company, and will be guaranteed by Aptiv Global Financing Limited, another indirect subsidiary. However, using debt financing to fund its operations could raise investor skepticism about its prospects.
