PLYMOUTH, Mich., Jan. 30,
2025 /PRNewswire/ -- Adient (NYSE: ADNT), a global
leader in automotive seating, today announced that its
wholly-owned subsidiary, Adient Global Holdings Ltd, intends,
subject to market and other customary conditions, to offer
$795 million in aggregate principal
amount of new senior unsecured notes due 2033 (the "Notes") in a
private offering.
Adient intends to use the net proceeds from this offering,
together with cash on hand, to redeem its existing 4.875% senior
unsecured notes due 2026 and to pay fees and expenses in connection
with the foregoing.
The offering of the Notes will be made in private transactions
in reliance upon an exemption from the registration requirements of
the Securities Act of 1933, as amended (the "Securities Act"), only
to persons reasonably believed to be "qualified institutional
buyers" in accordance with Rule 144A under the Securities Act and
to non-U.S. persons outside the United
States in accordance with Regulation S under the Securities
Act.
This press release does not and will not constitute an offer to
sell or the solicitation of an offer to buy the Notes or any other
securities, nor will there be any sale of the Notes or any other
securities in any jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such jurisdiction. This press
release does not and will not constitute an offer to redeem
Adient's existing 4.875% senior unsecured notes due 2026. The Notes
and related note guarantees have not been and will not be
registered under the Securities Act or any state or other
jurisdiction's securities laws, and may not be offered or sold in
the United States to, or for the
benefit of, U.S. persons absent registration or an applicable
exemption from the registration requirements of the Securities Act
and applicable securities laws of any state or other
jurisdiction.
About Adient:
Adient (NYSE: ADNT) is a global leader
in automotive seating. With 70,000+ employees in 29
countries, Adient operates more than 200
manufacturing/assembly plants worldwide. We produce and deliver
automotive seating for all major OEMs. From complete seating
systems to individual components, our expertise spans every step of
the automotive seat-making process. Our integrated, in-house skills
allow us to take our products from research and design to
engineering and manufacturing — and into millions of vehicles every
year. For more information on Adient, please
visit www.adient.com.
Cautionary Statement Regarding Forward-Looking
Statements:
Adient has made statements in this document that
are forward-looking and, therefore, are subject to risks and
uncertainties. All statements in this document other than
statements of historical fact are statements that are, or could be,
deemed "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements provide current expectations of future events based on
certain assumptions and include any statement that does not
directly relate to any historical or current fact. Forward-looking
statements can also be identified by words such as "future,"
"anticipates," "believes," "estimates," "expects," "intends,"
"plans," "predicts," "will," "would," "could," "can," "may," or
similar terms. Forward-looking statements are not guarantees of
future performance and Adient's actual results may differ
significantly from the results discussed in the forward-looking
statements. Adient cautions that these statements are subject to
numerous important risks, uncertainties, assumptions and other
factors, some of which are beyond Adient's control, that could
cause Adient's actual results to differ materially from those
expressed or implied by such forward-looking statements, including,
among others, the effects of local and national economic, credit
and capital market conditions (including the persistence of high
interest rates, vehicle affordability and volatile currency
exchange rates) on the global economy, automotive vehicle
production levels, mix and schedules, as well as the concentration
of exposure to certain automotive manufacturers, shifts in market
shares among vehicles, vehicle segments or away from vehicles on
which Adient has significant content, changes in consumer demand,
Adient's joint ventures, volatile energy markets, Adient's ability
and timing of customer recoveries for increased input costs, the
availability of raw materials and component products (including
components required by Adient's customers for the manufacture of
vehicles), geopolitical uncertainties such as the Ukraine and Middle
East conflicts and the impact on the regional and global
economies and additional pressure on supply chain and vehicle
production, uncertainties in U.S. administrative policy regarding
trade agreements, tariffs and other international trade relations,
the ability of Adient to effectively launch new business at
forecast and profitable levels, the ability of Adient to
successfully identify suitable opportunities for organic investment
and/or acquisitions and to integrate such investments and/or
acquisitions; work stoppages, including due to strikes, supply
chain disruptions and similar events, wage inflationary pressures
due to labor shortages and new labor negotiations, the ability of
Adient to execute its restructuring plans and achieve the desired
benefit, the ability of Adient to meet debt service requirements
and, terms of future financing, the impact of global tax reform
legislation, global climate change and related emphasis on
sustainability matters by various stakeholders, and the ability of
Adient to achieve its sustainability-related goals, cancellation of
or changes to commercial arrangements, and the ability of Adient to
identify, recruit and retain key leadership. Additional information
regarding these and other risks related to Adient's business that
could cause actual results to differ materially from what is
contained in the forward-looking statements is included in the
section entitled "Risk Factors," contained in our Annual Report on
Form 10-K for the fiscal year ended September 30, 2024, filed with the U.S.
Securities and Exchange Commission (the "SEC") on November 18, 2024, and in subsequent reports
filed with or furnished to the SEC, available at www.sec.gov. The
forward-looking statements included in this document are made only
as of the date of this document, unless otherwise specified, and,
except as required by law, Adient assumes no obligation, and
disclaims any obligation, to update such statements to reflect
events or circumstances occurring after the date of this
document.
ADNT-FN
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SOURCE Adient
