Dana Holding Corporation (NYSE: DAN) (“Dana”) today announced that it has priced its previously announced offering of senior unsecured notes of $425 million at 5.500% due 2024.
The company intends to use the proceeds from the offering to purchase up to $360 million aggregate principal amount of its 6.500% Notes due 2019 (the “2019 Notes”) in the company’s previously announced tender offer, to redeem $40 million aggregate principal amount of the 2019 Notes, to pay related fees and expenses and for general corporate purposes.
As of 5:00 pm, New York City time, Thursday, December 4, 2014, Dana has been informed by the tender and information agent that approximately$344 million aggregate principal amount of the 2019 Notes, constituting approximately 86% of the total aggregate outstanding 2019 Notes, had been tendered for purchase in the tender offer.
Citigroup Global Markets Inc.; BofA Merrill Lynch; Barclays Capital Inc.; Deutsche Bank Securities Inc.; J.P. Morgan Securities LLC; UBS Securities LLC; and Wells Fargo Securities, LLC are acting as joint-bookrunning managers in the offering.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.
