Aptiv (APTV) said late Wednesday that a newly formed holding company for its electrical distribution systems unit priced an expanded $1.6 billion private debt offering.

The transaction features equal $800 million in senior notes maturing in 2031 and 2034, which represent a $100 million increase from the original target, the company said.

The company also said it secured an $850 million revolving credit line alongside a $500 million term loan.

The proceeds will finance a payout to the parent organization while leaving the standalone business with $400 million for general operations, and the transaction is expected to close around March 18, Aptiv said.