Allison Transmission to issue $1 billion eight-year senior notes for bank debt refinancing

By Paul A. Harris

Portland, Ore., Sept. 7 – Allison Transmission Inc., a wholly owned subsidiary of Allison Transmission Holdings, Inc., plans to place $1 billion of senior notes due 2024, according to a 8-K document filed on Wednesday with the Securities and Exchange Commission.

The company also plans to put in place new bank debt, according to a market source, who added that the bank debt was scheduled to launch on a Wednesday lender call.

The Indianapolis-based automatic transmission company plans to use the proceeds, together with cash on hand, to repay a portion of its outstanding term loans.

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