Shearman And Sterling

News February 28, 2019

Dana Incorporated’s $825 Million Acquisition Financing

Shearman & Sterling advised Citibank, N.A., as administrative agent, on amendments to Dana Incorporated’s existing credit facilities consisting of (i) a $225 million incremental senior secured term loan A facility, bringing the total size of that facility to $500 million, (ii) a new $450 million senior secured term loan B facility and (iii) a $150 million upsize to the existing senior secured revolving credit facility, bringing the total size of that facility to $750 million. Proceeds from the facilities will be used to finance the acquisition of GrazianoFairfield AG, and for general corporate purposes.

Headquartered in Maumee, Ohio, Dana Incorporated provides drive and motion products, sealing solutions, thermal-management technologies and fluid-power products to vehicle and engine manufacturers in North America, Europe, South America and the Asia Pacific.

The Shearman & Sterling team below also included staff attorney Wes Sheldon.

The Team