American Axle & Manufacturing Announces Offering of Senior Unsecured Notes
February 22 2007 - 7:00AM
PR Newswire (US)
DETROIT, Feb. 22 /PRNewswire-FirstCall/ -- American Axle &
Manufacturing Holdings, Inc., which is traded as AXL on the NYSE,
and its wholly-owned subsidiary, American Axle & Manufacturing,
Inc. (AAM) today announced an offering of $300.0 million of 10-year
senior unsecured notes due 2017. The offering is subject to market
and other customary conditions. The offering is being made pursuant
to an effective shelf registration statement previously filed with
the Securities and Exchange Commission. Net proceeds from this
financing will be used for general corporate purposes, including to
repay amounts outstanding under its revolving credit facility. The
offering is being lead managed by J.P. Morgan Securities Inc. and
Banc of America Securities LLC. This announcement does not
constitute an offer to sell or a solicitation of an offer to buy
any securities. The notes will not be sold in any state or
jurisdiction in which such an offer, solicitation or sale would be
unlawful. Copies of the prospectus supplement and accompanying
prospectus related to the offering may be obtained from J.P. Morgan
Securities Inc., 270 Park Avenue, 8th Floor, New York, NY 10017 or
by phone at (800) 245-8812, or from Banc of America Securities LLC,
100 West 33rd Street, 3rd Floor, New York, NY 10001 or by phone at
(800) 294-1322. AAM is a world leader in the manufacture,
engineering, design and validation of driveline and drivetrain
systems and related components and modules, chassis systems and
metal-formed products for light trucks, sport utility vehicles and
passenger cars. In addition to locations in the United States (in
Michigan, New York and Ohio), AAM also has offices or facilities in
Brazil, China, Germany, India, Japan, Luxembourg, Mexico, Poland,
South Korea and the United Kingdom. Certain statements contained in
this press release are "forward-looking statements" and relate to
the Company's plans, projections, strategies or future performance.
Such statements are made pursuant to the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995 and are based
on our current expectations, are inherently uncertain, are subject
to risks and should be viewed with caution. Actual results and
experience may differ materially from the forward-looking
statements as a result of many factors, including but not limited
to: reduced purchases of our products by GM, DaimlerChrysler or
other customers; reduced demand of our customers' products or
volume reductions (particularly for light trucks and SUVs produced
by GM and DaimlerChrysler); our ability and our suppliers' ability
to maintain satisfactory labor relations and avoid work stoppages;
our ability to achieve cost reductions through ongoing
restructuring actions; additional restructuring actions that may
occur; our ability to achieve sufficient cost reductions to sustain
global cost competitiveness; supply shortages or price fluctuations
in raw materials, utilities or other operating supplies; our
ability and our customers' and suppliers' ability to successfully
launch new product programs on a timely basis; our ability to
attract new customers and programs for new products; our ability to
develop and produce new products that reflect market demand; our
ability to respond to changes in technology or increased
competition; adverse changes in laws, government regulations or
market conditions affecting our products or our customers' products
(including the Corporate Average Fuel Economy regulations); adverse
changes in the economic conditions or political stability of our
principal markets (particularly North America, Europe, South
America and Asia); liabilities arising from legal proceedings to
which we are or may become a party or claims against us or our
products; risks of noncompliance with environmental regulations or
risks of environmental issues that could result in unforeseen costs
at our facilities; availability of financing for working capital,
capital expenditures, research and development or other general
corporate purposes, including our ability to comply with financial
covenants; our ability to attract and retain key associates; and
other unanticipated events and conditions that may hinder our
ability to compete. For additional discussion, see "Item 1A. Risk
Factors" in our most recent annual report on Form 10-K and
quarterly reports on Form 10-Q. It is not possible to foresee or
identify all such factors and we assume no obligation to update any
forward-looking statements or to disclose any subsequent facts,
events or circumstances that may affect their accuracy. For more
information ... Media relations contact: Renee B. Rogers Manager,
Corporate Communications and Media Relations (313) 758-4882
Investor relations contact: Christopher M. Son Director, Investor
Relations (313) 758-4814 DATASOURCE: American Axle &
Manufacturing Holdings, Inc. CONTACT: Media relations, Renee B.
Rogers, Manager, Corporate Communications and Media Relations,
+1-313-758-4882, or , or Investor relations, Christopher M. Son,
Director, Investor Relations, +1-313-758-4814, or , both of
American Axle & Manufacturing Holdings, Inc. Web site:
http://www.aam.com/ Company News On-Call:
http://www.prnewswire.com/comp/033813.html
Copyright