AAM Announces Proposed Senior Notes Offering - aftermarketNews

AAM Announces Proposed Senior Notes Offering

AAM intends to use the net proceeds of the offering to fund the redemption of 100% of its outstanding 6.25% senior notes due 2025.

American Axle & Manufacturing Holdings, Inc. (Holdings) announced today that its wholly owned subsidiary, American Axle & Manufacturing, Inc. (AAM), is planning a public offering of $600 million of senior notes, subject to market and other conditions.

The notes will bear interest at a rate to be determined at pricing and will be unconditionally guaranteed on a senior unsecured basis by Holdings and certain of Holdings’ direct and indirect present and future domestic subsidiaries and AAM’s present and future domestic subsidiaries.

The company intends to use the net proceeds of the offering, together with cash on hand, to fund the redemption of 100% of its outstanding 6.25% Senior Notes due 2025, including the payment of accrued interest.

BofA Securities, Barclays, Citigroup, J.P. Morgan, RBC Capital Markets and BMO Capital Markets will be joint book-running managers for the debt offering.

This press release shall not constitute an offer to sell or a solicitation of an offer to purchase any of these securities and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state.  An effective shelf registration statement related to the offering is on file with the U.S. Securities and Exchange Commission (“SEC”).  This offering will be made only by means of a prospectus supplement and the accompanying base prospectus.  Additionally, this press release shall not constitute an offer to buy or the solicitation of an offer to sell the 6.25% Senior Notes due 2025.

Before you invest, you should read the prospectus supplement and the accompanying base prospectus and other documents Holdings has filed with the SEC for more complete information about AAM, Holdings and this offering.  You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov.  Alternatively, AAM, any underwriter or any dealer participating in the offering will arrange to send you the prospectus supplement and the accompanying base prospectus.  The prospectus supplement and the accompanying base prospectus for this offering may be obtained by directing a request to BofASecurities, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC 28255-0001, Attn: Prospectus Department, or by email at [email protected].

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