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BRIEF-Dana launches $375 million senior notes offering
May 24, 2016 / 11:36 AM / a year ago

BRIEF-Dana launches $375 million senior notes offering

May 24 (Reuters) - Dana Holding Corp

* Proposing to issue $375 million aggregate principal amount of senior unsecured notes due 2026

* Issued a notice of redemption in respect of all of its outstanding 6.750% notes due 2021

* Intends to use proceeds from 2026 notes offering to redeem all of its 2021 notes

* Received commitments from lenders for new cash flow revolving credit facility with 5-year term, availability of $500 million

* Cash flow facility will replace dana’s existing asset based revolving credit facility

* New cash flow revolving credit facility will be reduced for outstanding credit advances or letter of credit issuances

* Dana launches $375 million senior notes offering Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)

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