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American Axle to redeem all 6 5/8% senior notes due 2022
By Rebecca Melvin
New York, June 9 – American Axle & Manufacturing Holdings Inc. plans to redeem all of its outstanding 6 5/8% senior notes due 2022 with proceeds of a new notes offering, according to a company news release.
The company is planning to price $400 million of new notes subject to market conditions. Proceeds remaining after the 2022 notes are redeemed will be used for general corporate purposes, which may include repayment of debt.
BofA Securities Inc., Barclays, Citigroup Global Markets Inc., J.P. Morgan Securities LLC and RBC Capital Markets Corp. will be joint bookrunning managers of the debt offering.
The driveline parts and systems maker is based in Detroit.
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