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American Axle & Manufacturing Holdings,
Inc.
announced today the interim results of the previously
announced tender offer and consent solicitation by its subsidiary, American
Axle & Manufacturing, Inc. (the "Company"). As of 5:00 p.m., New York City
time, on February 28, 2013 (the "Early Tender Time"), a total of $172.6
million principal amount of the Company's 7.875% senior notes due 2017 (CUSIP
No. 02406PAF7) had been tendered and the related consents delivered.
Pursuant to the terms of the tender offer, the Company accepted for payment
all notes validly tendered (and not validly withdrawn) prior to the Early
Tender Time, and holders who tendered such notes received $1,030 per $1,000 in
principal amount of notes validly tendered, plus accrued and unpaid interest
up to, but not including, the payment date for such notes, which was today.
The tender offer will expire at 11:59 p.m., New York City time, on March 14,
2013, unless extended (such date and time, as the same may be extended, the
"Expiration Time"). Holders who validly tender their notes after the Early
Tender Time and before the Expiration Time will be eligible to receive $1,005
per $1,000 principal amount of notes, plus accrued and unpaid interest up to,
but not including, the final settlement date, which is expected to be the next
business day after the Expiration Time.
Based on the consents received, the Company and the trustee under the
indenture governing the notes have entered into a supplemental indenture that
eliminates most of the covenants and certain default provisions applicable to
the notes and shortens certain redemption notice periods.
Tendered notes may no longer be withdrawn and the related consents may no
longer be revoked. Any extension, delay, termination or amendment of the
tender offer will be followed as promptly as practicable by a public
announcement thereof.
The complete terms and conditions of the tender offer and consent solicitation
are described in the Offer to Purchase and Consent Solicitation Statement,
dated February 14, 2013, copies of which may be obtained from D.F. King & Co.,
Inc., the tender and information agent for the tender offer and consent
solicitation, at (800) 769-4414 (US toll-free) or, for banks and brokers,
(212) 269-5550.
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