American Axle Agrees Plans Private Placement Of Senior Notes

December 8, 2009 (FinancialWire) — American Axle & Manufacturing Holdings, Inc. (NYSE: AXL) said its wholly owned subsidiary, American Axle & Manufacturing, Inc., is planning an offering of senior secured notes.

The notes will bear interest at a rate to be determined at pricing and will be unconditionally guaranteed on a senior secured basis by Holdings and certain of AAM’s present and future wholly owned domestic subsidiaries.

AAM plans to use the net proceeds to repay all amounts outstanding under an Amended and Restated Credit Agreement dated as of June 14, 2007, as amended and restated as of September 16, 2009, among AAM, Holdings, a lenders party and JPMorgan Chase Bank, N.A., as collateral agent.

It also plans to repay certain outstanding loans under a Revolving Credit Agreement dated as of January 9, 2004, as amended and restated as of September 16, 2009 among AAM, Holdings, a lenders party and JPMorgan Chase Bank, N.A., as administrative agent.

American Axle is engaged in the manufacture, engineering, design and validation of driveline and drivetrain systems and related components and modules, chassis systems and metal-formed products for trucks, sport utility vehicles, passenger cars and crossover utility vehicles.

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