AAM Announces Pricing of $1.2 Billion in Senior Notes
09 Marzo 2017 - 10:02PM
DETROIT, March 9, 2017 - American Axle &
Manufacturing Holdings, Inc. (NYSE: AXL) ("AAM") announced today
that its wholly-owned subsidiary, American Axle &
Manufacturing, Inc. (the "Issuer"), has priced its previously
announced offering of $700 million in aggregate principal amount of
6.25% senior notes due 2025 and $500 million in aggregate principal
amount of 6.50% senior notes due 2027. The offering is expected to
close on March 23, 2017, subject to customary closing
conditions.
The notes 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. ("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,
nor shall it 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
Grafico Azioni American Axle and Manufa... (NYSE:AXL)
Storico
Da Giu 2024 a Lug 2024
Grafico Azioni American Axle and Manufa... (NYSE:AXL)
Storico
Da Lug 2023 a Lug 2024