American Axle to repay revolver borrowings with bond proceeds

By Sara Rosenberg

New York, Feb. 22 - American Axle & Manufacturing Holdings Inc. plans to repay amounts outstanding under its revolving credit facility using a portion of the proceeds from a proposed $300 million senior unsecured notes offering, according to a company news release.

Remaining proceeds will be used for general corporate purposes.

American Axle is a Detroit-based manufacturer of driveline systems and related powertrain components and chassis modules for light trucks, sport utility vehicles, and passenger cars and crossover vehicles.

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