American Axle’s $400 Million High?Yield Senior Notes Offering


Cravath represented the underwriters, led by Citigroup, Barclays, Bank of America Merrill Lynch, J.P. Morgan Securities and RBC Capital Markets, in connection with the $400 million registered high?yield senior notes offering of American Axle & Manufacturing, Inc.

American Axle & Manufacturing, Inc. designs, engineers, manufactures, and supplies driveline and drivetrain systems and related components for light trucks, SUVs, passenger cars, crossover vehicles, and commercial vehicles.The company, led by David Charles Dauch, in 2017 recorded $6.7 Billion Revenues.Cravath also represented the dealer manager and solicitation agent in connection with American Axle & Manufacturing, Inc.’s concurrent cash tender offer.

The transaction closed on March 26, 2018.

The Cravath team included partner Stephen L. Burns (Picture) and associates Joshua Ayal and Austin L. Lee on securities matters, partner Matthew Morreale on environmental matters, and associate Dmitry Zelik on tax matters. Arash Ardalan also worked on securities matters.

Involved fees earner: Stephen L. Burns – Cravath Swaine & Moore; Joshua Ayal – Cravath Swaine & Moore; Austin Lee – Cravath Swaine & Moore; Matthew Morreale – Cravath Swaine & Moore; Dmitry Zelik – Cravath Swaine & Moore;

Law Firms: Cravath Swaine & Moore;

Clients: Barclays Bank; Bank of America Merrill Lynch; Citigroup Inc.; RBC Capital Markets; JP Morgan Securities;

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Author: Ambrogio Visconti