American Axle & Manufacturing announces proposed senior notes offering

|About: American Axle & Manufac... (AXL)|By:, SA News Editor

American Axle & Manufacturing Holdings (AXL -0.1%) announced that its wholly owned subsidiary, American Axle & Manufacturing intends to offer $350M of unsecured senior notes.

The company intends to use the net proceeds, cash on hand and/or borrowings under its credit agreement to fund the repurchase of any and all of its outstanding 6.25% Senior Notes due 202, including the payment of accrued interest and any applicable consent premium.

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

Press Release

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