Superior Industries International Inc., a manufacturer of aluminum wheels for customers serving the North American and European automotive markets, announced that it intends to offer €240 million (approximately $270.28 million USD) aggregate principal amount of senior notes due 2025, subject to market and customary conditions, in an offering exempt from the registration requirements of the Securities Act of 1933. The notes will be general unsecured obligations of the company and will be guaranteed, with certain exceptions, by Superior’s existing and future domestic subsidiaries.

The company intends to use net proceeds from the offering of the notes to repay a €240 million bridge loan (approximately $270.28 million USD) that was entered into in conjunction with the purchase of outstanding shares of UNIWHEELS AG.

Superior also announced that its board of directors has declared a quarterly cash dividend of 9 cents per share, payable on July 19, 2017, to shareholders of record as of July 5, 2017.