MAUMEE, Ohio, May 14, 2021 /PRNewswire/ -- Dana
Incorporated (NYSE: DAN) ("Dana") today announced that its
wholly-owned subsidiary, Dana Financing Luxembourg S.à r.l., has
priced its offering of €325 million aggregate principal amount
of 3.000% Senior Notes due 2029 (the "2029 Notes"). The 2029
Notes will be fully and unconditionally guaranteed by Dana.
The company intends to allocate the net proceeds from the
offering, together with cash on hand, to (i) redeem all of
Dana's outstanding 6.500% Senior
Notes due 2026 and (ii) pay related fees and expenses.
Credit Suisse Securities (Europe) Limited, J.P. Morgan Securities plc,
Bank of Montreal, London Branch, Barclays Bank PLC, BofA
Securities Europe SA, Citigroup Global Markets Limited, Goldman
Sachs International, Mizuho Securities Europe GmbH, RBC Capital
Markets, LLC, are acting as joint book-running managers in the
offering, Citizens Capital Markets, Fifth Third Securities, Inc.
and KeyBank Capital Markets Inc. are acting as co-managers in the
offering and Credit Suisse Securities (Europe) Limited and J.P. Morgan Securities plc
are also acting as the representative of the initial purchasers in
the offering.
This news release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation, or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or other
jurisdiction.
This document is for distribution only to persons who (i) have
professional experience in matters relating to investments falling
within Article 19(5) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005 (as amended, the "Financial
Promotion Order"), (ii) are persons falling within Article 49(2)(a)
to (d) ("high net worth companies, unincorporated associations,
etc.") of the Financial Promotion Order, (iii) are outside the
United Kingdom, or (iv) are
persons to whom an invitation or inducement to engage in investment
activity (within the meaning of section 21 of the Financial
Services and Markets Act 2000) in connection with the issue or sale
of any securities may otherwise lawfully be communicated or caused
to be communicated (all such persons together being referred to as
"relevant persons"). This document is directed only at relevant
persons and must not be acted on or relied on by persons who are
not relevant persons. Any investment or investment activity
to which this document relates is available only to relevant
persons and will be engaged in only with relevant persons.
Manufacturer target market (MIFID II and UK MiFIR product
governance) is eligible counterparties and professional clients
only (all distribution channels). No EEA or UK PRIIPs key
information document (KID) has been prepared as not available to
retail in EEA or UK.
Forward-Looking Statements
Certain statements and
projections contained in this news release are, by their nature,
forward-looking within the meaning of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements,
including with respect to the use of proceeds, are based on our
current expectations, estimates, and projections about our industry
and business, management's beliefs, and certain assumptions made by
us, all of which are subject to change. Forward-looking statements
can often be identified by words such as "anticipates," "expects,"
"intends," "plans," "predicts," "believes," "seeks," "estimates,"
"may," "will," "should," "would," "could," "potential," "continue,"
"ongoing," and similar expressions, and variations or negatives of
these words. These forward-looking statements are not guarantees of
future results and are subject to risks, uncertainties, and
assumptions that could cause our actual results to differ
materially and adversely from those expressed in any
forward-looking statement.
Dana's Annual Report on Form
10-K, subsequent Quarterly Reports on Form 10-Q, recent Current
Reports on Form 8-K, and other Securities and Exchange Commission
filings discuss important risk factors that could affect our
business, results of operations and financial condition. The
forward-looking statements in this news release speak only as of
this date. Dana does not undertake
any obligation to revise or update publicly any forward-looking
statement for any reason.
About Dana Incorporated
Dana is a leader in the design and manufacture
of highly efficient propulsion and energy-management solutions for
all mobility markets across the globe. The company's conventional
and clean-energy solutions support nearly every vehicle
manufacturer with drive and motion systems; electrodynamic
technologies, including software and controls; and thermal,
sealing, and digital solutions.
Based in Maumee, Ohio, USA, the
company reported sales of $7.1
billion in 2020 with 38,000 associates in 33 countries
across six continents. Founded in 1904, Dana was named one of "America's Most
Responsible Companies 2021" by Newsweek for its emphasis on
sustainability and social responsibility. The company is driven by
a high-performance culture that focuses on its people, which has
earned it global recognition as a top employer, including "World's
Best Employer" from Forbes magazine.
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SOURCE Dana Incorporated