American Axle & Manufacturing Announce Proposed Senior Notes Offering
05 Novembre 2013 - 1:30PM
Detroit, Michigan, November 5, 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
redemption of any and all of its outstanding 9.25% Senior Secured
Notes due 2017 (the "9.25% Notes") in accordance with the terms of
the indenture governing the 9.25% Notes.
J.P. Morgan, BofA Merrill Lynch, 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 J.P. Morgan
toll-free at (800) 245-8812 or BofA Merrill Lynch toll-free at
(800) 294-1322.
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.
AAM is a world leader in the manufacture,
engineering, design and validation of driveline and drivetrain
systems and related components and modules, chassis systems and
metal-formed products for light trucks, sport utility vehicles,
passenger cars and crossover vehicles and commercial vehicles.
In addition to locations in the United States (Michigan,
Ohio, Pennsylvania and Indiana), 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
continuing market weakness in the Euro-zone; reduced purchases of
our products by General Motors Company (GM), Chrysler Group LLC
(Chrysler) or other customers; reduced demand for our customers'
products (particularly light trucks and sport utility vehicles
(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; 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); 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; availability of financing
for working capital, capital expenditures, research and development
(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; and 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
Liz Ventimiglia
Manager, Investor Relations
(313) 758-4635
liz.ventimiglia@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
HUG#1740545
Grafico Azioni American Axle and Manufa... (NYSE:AXL)
Storico
Da Lug 2024 a Ago 2024
Grafico Azioni American Axle and Manufa... (NYSE:AXL)
Storico
Da Ago 2023 a Ago 2024