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News Apr 03, 2018

American Axle Manufacturing, Inc.’s $400 Million Notes Offering and Concurrent Debt Tender Offer and Consent Solicitation

Shearman & Sterling represented American Axle Manufacturing, Inc. (AAM), along with its parent and certain subsidiary guarantors, in connection with its filing of a post-effective amendment to its registration statement and subsequent shelf takedown of $400 million aggregate principal amount of 6.25% senior notes due 2026, and its concurrent tender offer and consent solicitation for $400 million in aggregate principal amount outstanding of its 6.25% senior notes due 2021. The proceeds of the new notes, together with cash on hand, will be used to fund the purchase of AAM’s 6.25% notes in the tender offer, including the payment of accrued interest, as well as the redemption, at AAM’s discretion, of any 6.25% notes that are not tendered in the tender offer.

AAM is a global Tier I supplier to the automotive, commercial and industrial markets. AAM designs, engineers, validates and manufactures driveline, metal forming, powertrain and casting products, employing over 25,000 associates, operating at more than 90 facilities in 17 countries, to support its customers on global and regional platforms with a continued focus on delivering operational excellence, technology leadership and quality.

The Shearman & Sterling team below was supported by Kathryn White (New York–Corporate).

The Team