Aptiv announces new $5B share repurchase plan, $3B ASR

Aptiv announced that its Board of Directors has authorized a new $5B share repurchase program. This program will commence following completion of the company’s previous $2b January 2019 share repurchase program. Under the existing and new authorizations, the Company will immediately proceed with an accelerated share repurchase program totaling $3B. The Company expects to fund the accelerated share repurchase program with cash on hand and proceeds from debt, which may include borrowings under a new unsecured bridge credit facility, issuance of new debt or borrowings under other sources of existing liquidity. The accelerated share repurchase program will be executed by Goldman Sachs International and JPMorgan Chase Bank, N.A.