American Axle & Manufacturing Holdings, Inc. and American Axle & Manufacturing, Inc. Announce Agreements to Sell Senior Notes an
06 Febbraio 2004 - 2:58PM
PR Newswire (US)
American Axle & Manufacturing Holdings, Inc. and American Axle
& Manufacturing, Inc. Announce Agreements to Sell Senior Notes
and Convertible Senior Notes DETROIT, Feb. 6 /PRNewswire-FirstCall/
-- American Axle & Manufacturing Holdings, Inc. (Holdings),
which is traded as AXL on the NYSE, and its wholly-owned
subsidiary, American Axle & Manufacturing, Inc. (AAM) announced
today that it has entered into an agreement to sell $250.0 million
of 5.25% Senior Notes of AAM and $130.0 million of 2.00%
Convertible Senior Notes of Holdings in previously announced
private offerings pursuant to Rule 144A under the Securities Act of
1933, as amended. In addition, the initial purchasers have the
option to purchase up to an additional $20.0 million of the
Convertible Senior Notes. Concurrently with the offerings, Holdings
purchased approximately $63.0 million of its common stock in
privately negotiated transactions. The Senior Notes will mature on
February 11, 2014. The Convertible Senior Notes will mature on
February 15, 2024 and will be convertible under certain
circumstances into the Company's common shares at a conversion rate
of 18.0421 shares per $1,000 principal amount of notes, subject to
adjustment. The notes will be redeemable at the Company's option on
or after February 20, 2011 and will be subject to repurchase on
February 20, 2011 and on certain other dates. The offering is
expected to close on February 11, 2004, subject to customary
closing conditions. The senior notes and the convertible senior
notes have been offered in the United States only to qualified
institutional buyers pursuant to Rule 144 under the Securities Act
of 1933, as amended. The notes have not been registered under the
Securities Act and may not be offered or sold in the United State
absent an applicable exemption from the registration requirements
of the Securities Act. This press release does not constitute an
offer to sell or the solicitation of an offer to buy, nor shall
there be any sale of these securities, in any state in which such
an offer, solicitation, or sale would be unlawful. American Axle
& Manufacturing is a world leader in the manufacture, design,
engineering, and validation of driveline systems and related
components and modules, chassis systems and forged products for
trucks, sport utility vehicles and passenger cars. In addition to
its 14 locations in the United States (in Michigan, New York and
Ohio), AAM also has offices and facilities in Brazil, England,
Germany, Japan, Mexico and Scotland. Certain statements contained
in this press release which are not historical facts contain
forward-looking information with respect to the Company's plans,
projections or future performance, the occurrence of which involves
risk and uncertainties that could cause the company's actual
results or plans to differ materially from those expected by the
company which include risk factors described in the Company's
filings with the Securities and Exchange Commission. For more
information ... Media relations contact Investor relations contact
Carrie L.P. Gray Richard F. (Rick) Dauch Director, Corporate
Relations Vice President, Investor Relations (313) 758-4880 (313)
758-4767 Or visit the AAM website at http://www.aam.com/
DATASOURCE: American Axle & Manufacturing Holdings, Inc.
CONTACT: Media, Carrie L.P. Gray, Director, Corporate Relations,
+1-313-758-4880, or , or Investors, Richard F. (Rick) Dauch, Vice
President, Investor Relations, +1-313-758-4767, or , both of
American Axle & Manufacturing Holdings, Inc. Web site:
http://www.aam.com/ Company News On-Call:
http://www.prnewswire.com/comp/033813.html
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