AAM Announces Proposed Private Offering of Senior Notes
06 Marzo 2017 - 10:24PM
DETROIT, March 6, 2017 - American Axle &
Manufacturing Holdings, Inc. (NYSE: AXL) ("AAM") announced today
that its wholly-owned subsidiary, American Axle &
Manufacturing, Inc. (the "Issuer"), intends to offer, subject to
market and other conditions, $1.2 billion of senior notes.
The notes will bear interest at a rate to be
determined at pricing and will be unconditionally guaranteed on a
senior unsecured basis by AAM and certain of the Issuer's present
and future domestic subsidiaries.
The Issuer intends to use the net proceeds from
this offering, together with borrowings under new senior secured
credit facilities and cash on hand, to pay the cash consideration
payable in connection with AAM's acquisition of Metaldyne
Performance Group Inc. (NYSE: MPG) and related fees and expenses,
to refinance any indebtedness outstanding under AAM's existing
senior secured revolving credit facility and certain existing
indebtedness of MPG and the remainder, if any, for general
corporate purposes.
The senior notes will not be registered under the
Securities Act of 1933, as amended (the "Securities
Act") or any state securities laws and may not be offered or
sold in the United States absent an effective registration
statement or an applicable exemption from registration requirements
or a transaction not subject to the registration requirements of
the Securities Act or any state securities laws.
This press release shall not constitute an offer
to sell or a solicitation of an offer to purchase any 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 notes offering may be made only by
means of an offering memorandum.
About AAM
AAM is a world leader in the manufacture,
engineering, design and validation of driveline and drivetrain
systems and related components and modules, chassis systems,
electric drive systems and metal-formed products for light trucks,
sport utility vehicles, passenger cars, crossover vehicles and
commercial vehicles. In addition to locations in the United
States (Indiana, Michigan and Ohio), AAM also has
offices or facilities
in Brazil, China, Germany, India, Japan, Luxembourg,
Mexico, Poland, Scotland, South
Korea, Sweden and Thailand. To learn more,
visit www.aam.com.
For more information...
Investor Contact:
Jason P.
Parsons
Director, Investor Relations
(313) 758-2404
jason.parsons@aam.com
Media Contact:
Christopher M.
Son
Director, Marketing &
Communications
(313) 758-4814
chris.son@aam.com
Or visit the AAM website at www.aam.com.
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: American Axle & Manufacturing Holdings, Inc via
Globenewswire
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