DETROIT, Aug. 16, 2021 /PRNewswire/ -- American Axle &
Manufacturing Holdings, Inc. (NYSE: AXL) ("Holdings") announced
today that its wholly owned subsidiary, American Axle &
Manufacturing, Inc. ("AAM"), is planning a public offering of
$600 million of senior notes, 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 Holdings' direct and
indirect present and future domestic subsidiaries and AAM's present
and future domestic subsidiaries.
AAM intends to use the net proceeds of the offering, together
with cash on hand, to fund the redemption of 100% of its
outstanding 6.25% Senior Notes due 2025, including the payment of
accrued interest.
BofA Securities, Barclays, Citigroup, J.P. Morgan, RBC Capital
Markets and BMO Capital Markets will be joint book-running managers
for the debt offering.
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 prior to registration or qualification under the
securities laws of such state. An effective shelf
registration statement related to the offering is on file with the
U.S. Securities and Exchange Commission ("SEC"). This
offering will be made only by means of a prospectus supplement and
the accompanying base prospectus. Additionally, this press
release shall not constitute an offer to buy or the solicitation of
an offer to sell the 6.25% Senior Notes due 2025.
Before you invest, you should read the prospectus supplement and
the accompanying base prospectus and other documents Holdings has
filed with the SEC for more complete information about AAM,
Holdings and this offering. You may get these documents for
free by visiting EDGAR on the SEC website at www.sec.gov.
Alternatively, AAM, any underwriter or any dealer participating in
the offering will arrange to send you the prospectus supplement and
the accompanying base prospectus. The prospectus supplement
and the accompanying base prospectus for this offering may be
obtained by directing a request to BofA Securities, NC1-004-03-43,
200 North College Street, 3rd floor, Charlotte NC 28255-0001, Attn: Prospectus
Department, or by email at dg.prospectus_requests@bofa.com.
Forward-Looking Statements
In this press release, we make forward-looking statements
relating to matters that are not historical facts. These
forward-looking statements involve certain risks and uncertainties
that could cause actual results to differ materially from those
expressed or implied by these statements. These risks and
uncertainties include those described under "Risk Factors" in our
Annual Report on Form 10-K and our Quarterly Reports on Form
10-Q. These forward-looking statements speak only as of the
date of this report. We expressly disclaim any obligation or
undertaking to disseminate any updates or revisions to any
forward-looking statement contained herein to reflect any change in
our expectations with regard thereto or any change in events,
conditions or circumstances on which any such statement is
based.
About AAM
AAM (NYSE: AXL) delivers POWER that moves the world. As a
leading global Tier 1 automotive supplier, AAM designs, engineers
and manufactures driveline and metal forming technologies that are
making the next generation of vehicles smarter, lighter, safer and
more efficient. Headquartered in Detroit, AAM has approximately 20,000
associates operating at nearly 80 facilities in 17 countries to
support our customers on global and regional platforms with a focus
on quality, operational excellence and technology leadership. To
learn more, visit aam.com.
Investor Contact:
David H.
Lim
Head of Investor Relations
(313) 758-2006
david.lim@aam.com
Media Contact:
Christopher M. Son
Vice President, Marketing & Communications
(313) 758-4814
chris.son@aam.com
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SOURCE American Axle & Manufacturing Holdings, Inc.