American Axle & Manufacturing Announce Proposed Senior Notes Offering

Thomson Reuters ONE

Detroit, Michigan, November 5, 2013 - American Axle & Manufacturing Holdings, Inc. (AXL) ("Holdings") announced today that its wholly-owned subsidiary, American Axle & Manufacturing, Inc. ("AAM"), is planning an offering of senior notes in a public offering, subject to market and other conditions.

The notes will bear interest at a rate to be determined at pricing and will be unconditionally guaranteed on a senior unsecured basis by Holdings and certain of AAM`s present and future domestic subsidiaries.  

AAM intends to use the net proceeds to fund the redemption of any and all of its outstanding 9.25% Senior Secured Notes due 2017 (the "9.25% Notes") in accordance with the terms of the indenture governing the 9.25% Notes.

J.P. Morgan, BofA Merrill Lynch, Barclays, Citigroup and RBC Capital Markets will be joint book-running managers for the debt offering.  When available, copies of the preliminary prospectus supplement and the accompanying base prospectus for the offering can be obtained from J.P. Morgan toll-free at (800) 245-8812 or BofA Merrill Lynch toll-free at (800) 294-1322.

This press release shall not constitute an offer to sell or a solicitation of an offer to purchase any of these securities and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.  This offering may be made only by means of a prospectus supplement and accompanying base prospectus.  

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, passenger cars and crossover vehicles and commercial vehicles.  In addition to locations in the United States (Michigan, Ohio,  Pennsylvania and Indiana), AAM also has offices or facilities in Brazil, China, Germany, India, Japan, Luxembourg, Mexico, Poland, Scotland, South Korea, Sweden and Thailand.

Cautionary Statement Concerning Forward-Looking Statements.
In this press release, we make statements concerning our expectations, beliefs, plans, objectives, goals, strategies, and future events or performance. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time those statements are made and/or management`s good faith belief as of that time with respect to future events and are subject to risks and may differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause such differences include, but are not limited to: global economic conditions, including the impact of the continuing market weakness in the Euro-zone; reduced purchases of our products by General Motors Company (GM), Chrysler Group LLC (Chrysler) or other customers; reduced demand for our customers` products (particularly light trucks and sport utility vehicles (SUVs) produced by GM and Chrysler); our ability or our customers` and suppliers` ability to successfully launch new product programs on a timely basis; our ability to realize the expected revenues from our new and incremental business backlog; our ability to respond to changes in technology, increased competition or pricing pressures; supply shortages or price increases in raw materials, utilities or other operating supplies for us or our customers as a result of natural disasters or otherwise; liabilities arising from warranty claims, product recall or field actions, product liability and legal proceedings to which we are or may become a party; our ability to achieve the level of cost reductions required to sustain global cost competitiveness; our ability to attract new customers and programs for new products; price volatility in, or reduced availability of, fuel; our ability to develop and produce new products that reflect market demand; lower-than-anticipated market acceptance of new or existing products; risks inherent in our international operations (including adverse changes in political stability, taxes and other law changes, potential disruptions of production and supply, and currency rate fluctuations); our ability to maintain satisfactory labor relations and avoid work stoppages; our suppliers`, our customers` and their suppliers` ability to maintain satisfactory labor relations and avoid work stoppages; availability of financing for working capital, capital expenditures, research and development (R&D) or other general corporate purposes, including our ability to comply with financial covenants; our customers` and suppliers` availability of financing for working capital, capital expenditures, R&D or other general corporate purposes; adverse changes in laws, government regulations or market conditions affecting our products or our customers` products (such as the Corporate Average Fuel Economy (CAFE) regulations); changes in liabilities arising from pension and other postretirement benefit obligations; our ability to attract and retain key associates; risks of noncompliance with environmental laws and regulations or risks of environmental issues that could result in unforeseen costs at our facilities; our ability or our customers` and suppliers` ability to comply with the Dodd-Frank Act and other regulatory requirements and the potential costs of such compliance; our ability to consummate and integrate acquisitions and joint ventures; and other unanticipated events and conditions that may hinder our ability to compete. It is not possible to foresee or identify all such factors and we make no commitment to update any forward-looking statement or to disclose any facts, events or circumstances after the date hereof that may affect the accuracy of any forward-looking statement.

 

# # #

For more information...

Christopher M. Son  
Director, Investor Relations,          
Corporate Communications & Marketing      
(313) 758-4814          
chris.son@aam.com

Liz Ventimiglia
Manager, Investor Relations
(313) 758-4635
liz.ventimiglia@aam.com




This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: American Axle & Manufacturing Holdings, Inc via Thomson Reuters ONE

HUG#1740545
View Comments