Dana Incorporated Announces Full Redemption and Repayment of Senior Notes Following Off-Highway Business Sale
Dana Incorporated has announced the commencement of cash tender offers to purchase certain outstanding notes, including its 5.375% Senior Notes due 2027, 5.625% Senior Notes due 2028, 4.250% Senior Notes due 2030, and 4.500% Senior Notes due 2032, as well as notes issued by Dana Financing Luxembourg S.à r.l. The offers, made at 100% of the principal amount plus accrued and unpaid interest, are part of Dana's previously disclosed debt reduction plan and are contingent upon the successful sale of its off-highway business. The company has also issued notices of conditional full redemption for all outstanding 2027 and 2028 Notes, with a redemption date set for January 8, 2026. Proceeds from the asset sale are expected to fund the repurchase and redemption of these notes.
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