American Axle & Manufacturing Announces Term Loan Refinancing
June 01 2007 - 9:30AM
PR Newswire (US)
DETROIT, June 1 /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) announced today that they have selected JPMorgan
Securities Inc. and Banc of America Securities LLC to arrange a
$250 million unsecured term loan facility. The facility is being
arranged on an uncommitted basis giving AAM the ability to enter
into the transaction at its discretion. AAM intends to use the
proceeds for general corporate purposes, including the prepayment
of its existing $250 million term loan. The new term loan would
mature in 2012. The transaction is subject to customary terms and
conditions and the execution of definitive documentation. 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
which are not historical facts contain forward-looking information
with respect to the Company's plans, projections or future
performance, the occurrence of which involves risk and
uncertainties that could cause the Company's actual results or
plans to differ materially from those expected by the Company which
include risk factors described in our most recent annual report on
Form 10-K and quarterly reports on Form 10-Q filed with the
Securities and Exchange Commission. For more information ... Renee
B. Rogers Christopher M. Son Manager, Corporate Communications and
Director, Investor Relations Media Relations (313) 758-4814 (313)
758-4882 Or visit the AAM website at http://www.aam.com/
DATASOURCE: American Axle & Manufacturing Holdings, Inc.
CONTACT: Renee B. Rogers, Manager, Corporate Communications and
Media Relations, +1-313-758-4882, or Christopher M. Son, Director,
Investor Relations, +1-313-758-4814, Web site: http://www.aam.com/
Company News On-Call: http://www.prnewswire.com/comp/033813.html
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