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
renee.rogers@aam.com
Investor relations contact:
Christopher M. Son
Director, Investor Relations
(313) 758-4814
chris.son@aam.com
SOURCE American Axle & Manufacturing Holdings, Inc.
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Related links:
http://www.aam.com/
http://www.prnewswire.com/comp/033813.html /
CONTACT:
Media relations, Renee B. Rogers, Manager,
Corporate Communications and Media Relations, +1-313-758-4882, or
renee.rogers@aam.com, or Investor relations, Christopher M. Son,
Director, Investor Relations, +1-313-758-4814, or
chris.son@aam.com, both of American Axle & Manufacturing
Holdings, Inc.
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