Autoliv board oks renewal of EUR medium term note program
TL;DR
Autoliv's board renewed its €3 billion euro medium term note program for one year, allowing flexible funding through capital markets with guarantees from its subsidiary. The program, managed by Morgan Stanley and other dealers, supports the company's strategy to optimize capital structure without material changes.
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Autoliv board oks renewal of EUR medium term note program
Autoliv, Inc. (NYSE: ALV; Nasdaq Stockholm: ALIV.sdb) announced on March 12, 2025, that its Audit and Risk Committee approved the one-year renewal of its €3,000,000,000 guaranteed euro medium term note (EMTN) programme, originally established on April 11, 2019. The EMTN Programme allows the company to issue notes through capital markets and institutional investors, with future issuances unconditionally and irrevocably guaranteed by its subsidiary, Autoliv ASP, Inc. The base listing particulars for the renewed programme, dated March 14, 2025, were approved by Euronext Dublin and are accessible on its website.
The EMTN Programme is structured to provide flexible funding options, with an arranger (Morgan Stanley) and dealers including Bank of China, BNP Paribas, and J.P. Morgan, among others. The programme's securities are not registered under U.S. securities laws and may not be offered or sold within the United States without exemptions. Autoliv, a global leader in automotive safety systems, reported 2024 sales of $10.4 billion and operations across 25 countries.
This renewal follows a similar approval in March 2024, reflecting the company's ongoing strategy to optimize capital structure and access diverse funding sources. No material changes to the programme's terms were disclosed in the latest announcement.
Autoliv press release, March 14, 2025: Autoliv press release, March 14, 2025
Autoliv press release, March 6, 2024: Autoliv press release, March 6, 2024
Autoliv investors' EMTN program page: Autoliv investors' EMTN program page
