Metaldyne Corporation Announces the Completion of Its Offering Of Senior Notes Due 2013
27 October 2003 - 10:07PM
PR Newswire (US)
Metaldyne Corporation Announces the Completion of Its Offering Of
Senior Notes Due 2013 PLYMOUTH, Mich., Oct. 27 /PRNewswire/ --
Metaldyne Corporation announced the completion of its offering of
$150.0 million of senior notes due 2013, which is an increase in
the size of the offering announced on October 14, 2003. The senior
notes will be guaranteed on a senior basis by each of Metaldyne
Corporation's domestic subsidiaries that is a guarantor or direct
borrower under their credit facility. The net proceeds from the
senior notes offering will be used to repay the balance of $98.5
million aggregate principal amount of Metaldyne's outstanding 4.5%
subordinated debentures due 2003 and to repay approximately $46.6
million of term loan debt under the credit facility. The senior
notes were offered in a private offering to qualified institutional
buyers under Rule 144A and to persons outside the United States
under Regulation S. The senior notes will not be registered under
the Securities Act of 1933, as amended, and unless so registered,
may not be offered or sold in the United States except pursuant to
an exemption from, or in a transaction not subject to, the
registration requirements of the Securities Act and applicable
state securities laws. This press release shall not constitute an
offer to sell, or the solicitation of an offer to buy, nor shall
there be any sale of the senior notes in any state in which such
offer, solicitation, or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state. About Metaldyne Metaldyne is a leading global designer and
supplier of metal-based components, assemblies and modules for
transportation-related powertrain and chassis applications
including engine, transmission/transfer case, wheel-end and
suspension, axle and driveline, and noise and vibration control
products to the motor vehicle industry. The company serves the
automotive segment through its Chassis, Driveline &
Transmission, and Engine Group. Headquartered in Plymouth, Mich.,
Metaldyne has annual revenues of $1.5 billion. The company employs
over 7,250 employees at over 50 facilities in 11 countries. For
more information, please visit http://www.metaldyne.com/ .
Forward-Looking Statements This news release contains
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Actual results may differ
materially from anticipated results because of certain risks and
uncertainties, including but not limited to general economic
conditions in the markets in which Metaldyne operates, declines in
North American automobile and light truck builds, reductions in
outsourcing by our automotive customers, increases in our raw
material and energy costs, labor costs and strikes at our major
direct and indirect customers and at our facilities, dependence on
significant automotive customers, the level of competition in the
automotive supply industry and pricing pressures from our
customers, technological developments that could competitively
disadvantage us, and risks associated with conducting business in
foreign countries. DATASOURCE: Metaldyne Corporation CONTACT: Kurt
Ruecke, Director of Corporate Communications of Metaldyne,
+1-734-354-4020 Web site: http://www.metaldyne.com/
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