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 chris.son@aam.com
renee.rogers@aam.com
Or visit the AAM website at http://www.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:
Renee B. Rogers, Manager, Corporate
Communications and Media Relations, +1-313-758-4882,
renee.rogers@aam.com or Christopher M. Son, Director, Investor
Relations, +1-313-758-4814, chris.son@aam.com
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