Loading...
Loading...
American Axle & Manufacturing Holdings, Inc.
AXL ("Holdings") announced today that its wholly-owned subsidiary, American Axle & Manufacturing, Inc. ("AAM"), has priced its previously announced offering of $550 million in aggregate principal amount of 6.625% senior notes due 2022 at an issue price of 100% in a public offering, subject to customary closing conditions.
The notes will be unconditionally guaranteed on a senior unsecured basis by Holdings and certain of AAM's present and future domestic subsidiaries.
AAM intends to use the net proceeds to fund the repurchase of any and all of its outstanding 5.25% Senior Notes due 2014 in its concurrent tender offer and consent solicitation, including the payment of accrued interest and any applicable early tender premium, to fund the partial redemption of its 9.25% Senior Secured Notes due 2017 pursuant to the terms thereof and to fund certain pension obligations and for other general corporate purposes.
J.P. Morgan, BofA Merrill Lynch, Barclays, Citigroup and RBC Capital Markets are joint book-running managers for the debt offering. When available, copies of the prospectus supplement and the accompanying base prospectus for the offering can be obtained from J.P. Morgan toll-free at (866) 803-9204.
This press release
See full press releaseLoading...
Loading...
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in