AAM Announces Pricing of $1.2 Billion in Senior Notes
(Thomson Reuters ONE) -
DETROIT, March 9, 2017 - American Axle & Manufacturing Holdings, Inc. (NYSE:
AXL) ("AAM") announced today that its wholly-owned subsidiary, American Axle &
Manufacturing, Inc. (the "Issuer"), has priced its previously announced offering
of $700 million in aggregate principal amount of 6.25% senior notes due 2025 and
$500 million in aggregate principal amount of 6.50% senior notes due 2027. The
offering is expected to close on March 23, 2017, subject to customary closing
conditions.
The notes will be unconditionally guaranteed on a senior unsecured basis by AAM
and certain of the Issuer's present and future domestic subsidiaries.
The Issuer intends to use the net proceeds from this offering, together with
borrowings under new senior secured credit facilities and cash on hand, to pay
the cash consideration payable in connection with AAM's acquisition of Metaldyne
Performance Group Inc. ("MPG") and related fees and expenses, to refinance any
indebtedness outstanding under AAM's existing senior secured revolving credit
facility and certain existing indebtedness of MPG and the remainder, if any, for
general corporate purposes.
The senior notes will not be registered under the Securities Act of 1933, as
amended (the "Securities Act") or any state securities laws and may not be
offered or sold in the United States absent an effective registration statement
or an applicable exemption from registration requirements or a transaction not
subject to the registration requirements of the Securities Act or any state
securities laws.
This press release shall not constitute an offer to sell or a solicitation of an
offer to purchase any securities, nor shall it constitute an offer, solicitation
or sale in any state or jurisdiction in which such an offer, solicitation or
sale would be unlawful. This notes offering may be made only by means of an
offering memorandum.
About AAM
AAM is a world leader in the manufacture, engineering, design and validation of
driveline and drivetrain systems and related components and modules, chassis
systems, electric drive systems and metal-formed products for light trucks,
sport utility vehicles, passenger cars, crossover vehicles and commercial
vehicles. In addition to locations in the United States
(Indiana, Michigan and Ohio), AAM also has offices or facilities
in Brazil, China, Germany, India, Japan, Luxembourg,
Mexico, Poland, Scotland, South Korea, Sweden and Thailand. To learn more,
visit www.aam.com.
For more information...
Investor Contact:
Jason P. Parsons
Director, Investor Relations
(313) 758-2404
jason.parsons(at)aam.com
Media Contact:
Christopher M. Son
Director, Marketing & Communications
(313) 758-4814
chris.son(at)aam.com
Or visit the AAM website at www.aam.com.
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: American Axle & Manufacturing Holdings, Inc via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 09.03.2017 - 22:02 Uhr
Sprache: Deutsch
News-ID 529406
Anzahl Zeichen: 3548
contact information:
Town:
Detroit, MI
Kategorie:
Business News
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"AAM Announces Pricing of $1.2 Billion in Senior Notes"
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