2023-05-10 18:06:38 ET
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Dana ( NYSE: DAN ) said Wednesday its unit Dana Financing Luxembourg S.à r.l. has priced the offering of €425 million, 8.500% senior notes due 2031.
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The 2031 notes will be fully and unconditionally guaranteed by Dana.
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Net proceeds from the offering will be used to redeem $200 million of the unit's outstanding 5.750% senior notes due 2025.
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Proceeds will also be used to repay $245 million of outstanding borrowings under the company's revolving credit facility, among other things.
For further details see:
Dana's Luxembourg unit prices €425M senior notes