Dana Corporation Completes Tender Offer
23 Dicembre 2004 - 4:54PM
PR Newswire (US)
Dana Corporation Completes Tender Offer TOLEDO, Ohio, Dec. 23
/PRNewswire-FirstCall/ -- Dana Corporation (NYSE:DCN) ("Dana")
announced the expiration of the tender offer for its 10-1/8% Notes
due 2010 (the "10-1/8% Notes"), 9% EUR Notes due 2011 (the "9% EUR
Notes") and 9% USD Notes due 2011 (the "9% USD Notes")
(collectively, the "Notes"). (Logo:
http://www.newscom.com/cgi-bin/prnh/19990903/DANA ) A total of
approximately $891 million (or its equivalent) in aggregate
principal amount of Notes was tendered prior to 5:00 p.m., New York
City time, on December 22, 2004, the expiration date. The early
settlement was completed on December 10, 2004 and the final
settlement was completed today. Accrued interest was paid, in each
case, up to but not including the applicable settlement date. The
table below shows, by series, the Notes included in the tender
offer, the principal amount tendered prior to the expiration of the
tender offer and the principal amount remaining outstanding. Title
of Principal Principal Principal Amount Security Amount Outstanding
(1) Amount Tendered Remaining Outstanding 10-1/8% Notes due 2010
(USD) $250,000,000 $175,252,000 $74,748,000 9.00% Euro Notes due
2011 (EUR) EUR 200,000,000 EUR 192,723,000 EUR 7,277,000 9.00%
Notes due 2011 (USD) $575,000,000 $459,372,000 $115,628,000 (1) As
of the tender offer launch date, November 15, 2004. Dana has
received the requisite consents to adopt its proposed amendments
with respect to each series of Notes subject to the tender offer.
As a result, the supplemental indentures containing such amendments
have been executed and are operative. Banc of America Securities,
Deutsche Bank Securities and J.P. Morgan Securities acted as the
joint-lead dealer managers in connection with the tender offer and
solicitation agents in connection with the consent solicitation.
About Dana Corporation Dana Corporation is a global leader in the
design, engineering, and manufacture of value-added products and
systems for automotive, commercial, and off-highway vehicles.
Delivering on a century of innovation, Dana employs approximately
45,000 people worldwide dedicated to advancing the science of
mobility. Founded in 1904 and based in Toledo, Ohio, Dana operates
technology, manufacturing, and customer-service facilities in 30
countries. Sales from continuing operations totaled $7.9 billion in
2003. Dana's Internet address is: http://www.dana.com/.
http://www.newscom.com/cgi-bin/prnh/19990903/DANA
http://photoarchive.ap.org/ DATASOURCE: Dana Corporation CONTACT:
Michelle L. Hards of Dana Corporation, +1-419-535-4636, Web site:
http://www.dana.com/
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