American Axle & Manufacturing Unit Prices Upsized Debt Offering of $2.1 Billion
MT Newswires Live
Sep 20, 2025
American Axle & Manufacturing (AXL) said its subsidiary priced an upsized debt offering of $2.1 billion.
The offering consists of $850 million of 6.375% senior secured notes due 2032 and $1.25 billion of 7.75% senior unsecured notes due 2033, the company said Friday in a statement. The combined offering tops the initial size by $657 million.
The unit plans to use the net proceeds from the offering, combined with borrowing from existing credit facilities, to pay for the pending business combination with Dowlais Group and for other corporate purposes.
The offering is expected to close on Oct. 3.
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