Davis Polk Advises Delphi on Its $300 Million Senior Notes Offering

Davis Polk advised Delphi Automotive PLC in connection with a SEC-registered offering of $300 million aggregate principal amount of its 4.400% senior notes due 2046. The notes are guaranteed by certain of Delphi Automotive PLC’s subsidiaries. Delphi intends to use the net proceeds from the offering, together with the proceeds from Delphi’s offering of €500 million 1.600% senior notes due 2028, to repay Delphi Corporation’s outstanding 5.00% senior notes due 2023.

Based in Troy, Michigan, Delphi is a leading global vehicle components manufacturer and provider of electrical and electronic, powertrain and safety technology solutions to the global automotive and commercial vehicle markets. Delphi operates 129 manufacturing facilities and 14 major technical centers with a presence in 33 countries.

The Davis Polk capital markets team included partner Michael Kaplan and associates Roshni Banker Cariello and Martin Oberst. The tax team included partners Michael Mollerus and Jonathan Cooklin and associates Sam R. Van Peperstraete, Dominic Foulkes and Gil Savir. The environmental team included counsel Betty Moy Huber and associate Yuko Masunaga. Members of the Davis Polk team are based in the New York and London offices.