American Axle & Manufacturing Announces Proposed Senior Notes Offering
14 Febbraio 2013 - 3:00PM
Detroit, Michigan, February 14, 2013 - American
Axle & Manufacturing Holdings, Inc. (NYSE:AXL) ("Holdings")
announced today that its wholly-owned subsidiary, American Axle
& Manufacturing, Inc. ("AAM"), is planning an offering of
senior notes in a public offering, subject to market and other
conditions.
The notes will bear interest at a rate to be
determined at pricing and will be unconditionally guaranteed on a
senior unsecured basis by Holdings and certain of AAM's present and
future domestic subsidiaries.
AAM intends to use the net proceeds to fund the
purchase of any and all of its outstanding 7.875% Senior Notes due
2017 in its concurrent tender offer and consent solicitation,
including the payment of accrued interest and any applicable
consent premium and for other general corporate purposes, including
the repayment of other indebtedness.
BofA Merrill Lynch, J.P. Morgan, Barclays,
Citigroup and RBC Capital Markets will be joint book-running
managers for the debt offering. When available, copies of the
preliminary prospectus supplement and the accompanying base
prospectus for the offering can be obtained from BofA Merrill Lynch
toll-free at (800) 294-1322 or J.P. Morgan toll-free at (800)
245-8812.
This press release shall not constitute an offer
to sell or a solicitation of an offer to purchase any of these
securities and shall not constitute an offer, solicitation or sale
in any state or jurisdiction in which such an offer, solicitation
or sale would be unlawful. This offering may be made only by
means of a prospectus supplement and accompanying base prospectus.
Additionally, this press release shall not constitute an offer to
buy or the solicitation of an offer to sell the 7.875% Senior Notes
due 2017 which are to be tendered in the concurrent tender offer
and consent solicitation.
AAM is a world leader in the manufacture,
engineering, design and validation of driveline and drivetrain
systems and related components and chassis modules for light
trucks, sport utility vehicles, passenger cars, crossover utility
vehicles and commercial vehicles. In addition to locations in
the United States (Michigan, Ohio, Indiana and Pennsylvania), AAM
also has offices or facilities in Brazil, China, Germany, India,
Japan, Luxembourg, Mexico, Poland, Scotland, South Korea, Sweden
and Thailand.
Cautionary Statement
Concerning Forward-Looking Statements.
In this press release, we make statements
concerning our expectations, beliefs, plans, objectives, goals,
strategies, and future events or performance. Forward-looking
statements should not be read as a guarantee of future performance
or results, and will not necessarily be accurate indications of the
times at, or by, which such performance or results will be
achieved. Forward-looking statements are based on information
available at the time those statements are made and/or management's
good faith belief as of that time with respect to future events and
are subject to risks and may differ materially from those expressed
in or suggested by the forward-looking statements. Important
factors that could cause such differences include, but are not
limited to: global economic conditions, including the impact of the
debt crisis in the Euro-zone; reduced purchases of our products by
GM, Chrysler or other customers; reduced demand for our customers'
products (particularly light trucks and SUVs produced by GM and
Chrysler); our ability or our customers' and suppliers' ability to
successfully launch new product programs on
a timely basis; our ability to realize the expected revenues from
our new and incremental business backlog; our ability to respond to
changes in technology, increased competition or pricing pressures;
supply shortages or price increases in raw materials, utilities or
other operating supplies for us or our customers as a result of
natural disasters or otherwise; liabilities arising from warranty
claims, product recall or field actions, product liability and
legal proceedings to which we are or may become a party;
our ability to achieve the level of cost
reductions required to sustain global cost competitiveness; our
ability to attract new customers and programs for new products;
price volatility in, or reduced availability of, fuel; our ability
to develop and produce new products that reflect market demand;
lower-than-anticipated market acceptance of new or existing
products; our ability to maintain satisfactory labor relations and
avoid work stoppages; our suppliers', our customers' and their
suppliers' ability to maintain satisfactory labor relations and
avoid work stoppages; risks inherent in our international
operations (including adverse changes in political stability, taxes
and other law changes, potential disruptions of production and
supply, and currency rate fluctuations); availability of financing
for working capital, capital expenditures, R&D or other general
corporate purposes, including our ability to comply with financial
covenants; our customers' and suppliers' availability of financing
for working capital, capital expenditures, R&D or other general
corporate purposes; adverse changes in laws, government regulations
or market conditions affecting our products or our customers'
products (such as the Corporate Average Fuel Economy ("CAFE")
regulations); changes in liabilities arising from pension and other
postretirement benefit obligations; our ability to attract and
retain key associates; risks of noncompliance with environmental
laws and regulations or risks of environmental issues that could
result in unforeseen costs at our facilities; our ability or our
customers' and suppliers' ability to comply with the Dodd-Frank Act
and other regulatory requirements and the potential costs of such
compliance; our ability to consummate and integrate acquisitions
and joint ventures; other unanticipated events and conditions that
may hinder our ability to compete. It is not possible to foresee or
identify all such factors and we make no commitment to update any
forward-looking statement or to disclose any facts, events or
circumstances after the date hereof that may affect the accuracy of
any forward-looking statement.
# # #
For more
information...
Christopher M. Son
Director, Investor Relations,
Corporate Communications & Marketing
(313) 758-4814
chris.son@aam.com
David Tworek
Manager, Communications
(313) 758-4883
david.tworek@aam.com
This
announcement is distributed by Thomson Reuters on behalf of Thomson
Reuters clients.
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the
information contained therein.
Source: American Axle & Manufacturing Holdings, Inc via Thomson
Reuters ONE
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