8-K Filing Shows Allison Transmission Adds $470M Of B-3 Loan Committments

On April 7, 2015, Allison Transmission Holdings, Inc. (the "Company") and Allison Transmission, Inc. ("Allison"), a wholly owned subsidiary of the Company, entered into that certain Amendment No. 11 ("Amendment No. 11") to the Credit Agreement, dated as of August 7, 2007 (the "Credit Agreement"). Amendment No. 11 added up to an additional $470 million of term B-3 loan commitments under the Credit Agreement effective as of the Amendment No. 11 effective date (the "Bank Financing") and Allison incurred term loans in an aggregate principal amount of $470 million under the Bank Financing. Amendment No. 11 also amended the Credit Agreement to, among other things, (i) permit prepayment, repurchase or redemption of Allison's 7.125% Senior Notes due 2019 (the "notes") with the proceeds of the Bank Financing and (ii) reset the period for which a prepayment premium of 1.00% will apply in the event of a repricing transaction to the six-month anniversary of the closing date of the Bank Financing. With the exception of the items noted above, the terms (including maturity and pricing) of the Bank Financing are materially the same as the terms of the existing term B-3 loans outstanding under the Credit Agreement. This summary of Amendment No. 11 does not purport to be complete and is subject to, and qualified in its entirety by, the full text of Amendment No. 11 filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.