Dana Incorporated’s $425 Million Cash Tender Offer and Consent Solicitation

Shearman & Sterling advised Citigroup Global Markets, as dealer manager, in the transaction.

Dana Incorporated executed its cash tender offer to purchase any and all of the outstanding $425 million aggregate principal amount of its 5.5% Senior Notes due 2024 (the Notes) and consent solicitation to enter into a supplemental indenture to amend certain terms of the indenture governing the Notes. Concurrent with the tender offer, Dana Incorporated issued a conditional notice of redemption for any and all of its outstanding 2024 Notes at a redemption price of 101.833% of the principal amount thereof, plus accrued and unpaid interest.

Dana Incorporated is a world leader in providing power-conveyance and energy-management solutions for vehicles and machinery. The company’s portfolio improves the efficiency, performance, and sustainability of light vehicles, commercial vehicles, and off-highway equipment.

Shearman & Sterling advised Citigroup Global Markets with Jason Lehner (Picture), Larry Crouch, Ryan Robski, Austin Jones, Debora Ayoub, and Nicole Bennewies.

Involved fees earner: Debora Ayoub – Shearman & Sterling; Nicole Bennewies – Shearman & Sterling; Larry Crouch – Shearman & Sterling; Austin Jones – Shearman & Sterling; Jason Lehner – Shearman & Sterling; Ryan Robski – Shearman & Sterling;

Law Firms: Shearman & Sterling;

Clients: Citigroup Global Markets Ltd;

Author: Martina Bellini