Aptiv sells $300 million 10-year 4.35% notes, $350 million 30-year 5.4% notes; Chugoku prices

By Devika Patel

Knoxville, Tenn., Feb. 28 – Two new deals were announced Thursday in the investment-grade bond market.

Dublin-based technology and mobility company Aptiv plc priced $650 million of senior notes (Baa2/BBB/BBB) in two tranches due 2029 and 2049.

The company sold $300 million of 10-year 4.35% notes at a spread of Treasuries plus 165 basis points. These notes priced at 99.879 to yield 4.365%.

A $350 million tranche of 30-year 5.4% notes were sold at a spread of Treasuries plus 235 bps. These notes priced at 99.558 to yield 5.43%.

Barclays, Deutsche Bank Securities Inc., Goldman Sachs & Co. and J.P. Morgan Securities LLC were the bookrunners.

Proceeds will be used to repay the company’s $650 million of 3.15% senior notes due Nov. 19, 2020.

Japan-based power provider Chugoku Electric Power Co. Inc. issued $300 million of 3.488% notes due 2024.

No further information was available regarding the Chugoku notes sale.

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