American Axle to launch $650 million term loan B on Monday

By Sara Rosenberg

New York, Dec. 2 – American Axle & Manufacturing Inc. is set to hold a question-and-answer call for lenders at 11 a.m. ET on Monday to launch a $650 million seven-year term loan B, according to a market source.

A pre-recorded lender presentation for the term loan B was available on Friday.

JPMorgan Chase Bank, Barclays, BMO Capital Markets, BofA Securities Inc., Citigroup Global Markets Inc., Mizuho and RBC Capital Markets are the lead arrangers on the deal. JPMorgan is the administrative agent.

Price talk on the term loan B is SOFR+10 basis points CSA plus 375 bps with a 0.5% floor and an original issue discount of 96, the source said.

The term loan B has 101 soft call protection for six months.

Commitments are due at 5 p.m. ET on Thursday, the source added.

Proceeds will be used to refinance an existing term loan B.

American Axle is a Detroit-based producer of driveline and drivetrain systems and related components and chassis modules for the automotive industry.

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