UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
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(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 1.01 Entry Into a Material Definitive Agreement
On July 17, 2024, Autoliv, Inc. (the “Company”), together with its wholly owned subsidiary, Autoliv ASP, Inc., entered into a new Revolving Credit Facility Agreement (the “Agreement”) with Standard Chartered Bank, as the mandated lead arranger, the original lender, and the facility agent.
The Agreement provides for a US$125,000,000 revolving credit facility (the “Facility”) that matures on May 23, 2029. Under the terms of the Agreement, the Company will pay a commitment fee on the undrawn amount of 0.14875% per annum, representing 35% of the applicable margin, which depends on the Company’s credit ratings and is currently 0.425%. The Company may during a period of up to five years draw loans of varying maturities, and any amounts drawn by the Company under the Facility will be used for general corporate purposes. The Facility is guaranteed by the Company and Autoliv ASP, Inc. As with all of the existing principal debt arrangements of the Company, the Agreement does not contain any financial covenants but does include customary events of default. As of July 18, 2024, no borrowings were drawn under the Facility.
The foregoing description of the Agreement does not purpose to be complete and is qualified in its entirety by reference to the full text of the Agreement, which will be filed as an exhibit to the Company’s Quarterly Report on Form 10-Q for the period ending September 30, 2024.
Item 2.03 |
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant |
The information set forth in Item 1.01 of this report is hereby incorporated by reference under this Item 2.03.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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AUTOLIV, INC |
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By: |
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/s/ Anthony J. Nellis |
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Name: |
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Anthony J. Nellis |
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Title: |
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Executive Vice President, Legal Affairs and General Counsel |
Date: July 18, 2024
Document and Entity Information |
Jul. 17, 2024 |
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| Cover [Abstract] | |
| Entity Registrant Name | Autoliv, Inc. |
| Amendment Flag | false |
| Entity Central Index Key | 0001034670 |
| Document Type | 8-K |
| Document Period End Date | Jul. 17, 2024 |
| Entity Incorporation State Country Code | DE |
| Entity File Number | 001-12933 |
| Entity Tax Identification Number | 51-0378542 |
| Entity Address, Address Line One | Klarabergsviadukten 70, Section B |
| Entity Address, Address Line Two | 7th Floor |
| Entity Address, Address Line Three | Box 70381 |
| Entity Address, City or Town | Stockholm |
| Entity Address, Country | SE |
| Entity Address, Postal Zip Code | SE-107 24 |
| City Area Code | 46 8 |
| Local Phone Number | 587 206 00 |
| Written Communications | false |
| Soliciting Material | false |
| Pre Commencement Tender Offer | false |
| Pre Commencement Issuer Tender Offer | false |
| Security 12b Title | Common Stock (par value $1.00 per share) |
| Trading Symbol | ALV |
| Security Exchange Name | NYSE |
| Entity Emerging Growth Company | false |
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