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American Axle talks $200 million 5.25-year notes at 5¼% area yield; pricing expected Tuesday
By Paul A. Harris
Portland, Ore., Nov. 5 - American Axle & Manufacturing, Inc. plans to price a $200 million offering of 5.25-year senior notes (B2) Tuesday, according to a market source.
The yield guidance is in the 5¼% area.
J.P. Morgan Securities LLC, BofA Merrill Lynch, Barclays, Citigroup Global Markets Inc. and RBC Capital Markets are the joint bookrunners.
The notes come with two years of call protection.
The Detroit-based manufacturer of vehicle drivetrain and chassis systems plans to use the proceeds to redeem its 9¼% senior notes due 2017.
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