Dana Holding to price $700 million two-part senior notes on Tuesday

By Paul A. Harris

Portland, Ore., Jan. 24 - Dana Holding Corp. plans to price $700 million of senior notes (B3/BB-) in two tranches on Tuesday, according to an informed source.

The offering features tranches of eight-year notes, which come with four years of call protection, and 10-year notes, which come with five years of call protection.

Citigroup Global Markets Inc., Wells Fargo Securities LLC, Bank of America Merrill Lynch, Barclays Capital Inc., ING Financial Markets LLC, Deutsche Bank Securities Inc. and UBS Securities LLC are the joint bookrunners for the offering of notes, which has been registered with the Securities and Exchange Commission.

Both tranches of notes have special call provisions, which would allow the issuer to redeem 10% of the notes annually at 103 during the non-call periods.

The Toledo, Ohio-based supplier of components, modules and systems to vehicle manufacturers and related aftermarkets will use the proceeds to repay its term loan facility.

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