DANA Inc (DAN): debt financing — Dana subsidiary closes €425M 8.500% Senior Notes due 2031

DANA Inc

Issuer is Dana Financing Luxembourg S.à r.l.; Notes fully and unconditionally guaranteed by Dana.
Interest payable semi-annually; maturity July 15, 2031; redemption starting Jul 15, 2026 at 104.25% of par.
Prior to Jul 15, 2026, up to 40% of Notes redeemable with equity offering proceeds at 108.5% of par.
Indenture contains restrictive covenants; change of control offer at 101% of principal plus accrued interest.

item 1.01 item 2.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

DANA Inc incurred senior notes of €425,000,000 with Computershare Trust Company, N.A. at 8.500% maturing July 15, 2031.

Instrument: senior notes
Principal: €425,000,000
Counterparty: Computershare Trust Company, N.A.
Rate: 8.500%
Maturity: July 15, 2031
Event: incurrence

Exact text from the filing

closed its previously announced offering of €425,000,000 in aggregate principal amount of its 8.500% Senior Notes due 2031

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

DANA Inc entered into Indenture for 8.500% Senior Notes due 2031 with Computershare Trust Company, N.A. valued at €425,000,000 aggregate principal amount of 8.500% Senior Notes due 2031 (effective 2023-05-24).

Action: entry
Agreement: notes offering
Counterparty: Computershare Trust Company, N.A.
Value: €425,000,000 aggregate principal amount of 8.500% Senior Notes due 2031
Effective: 2023-05-24

Exact text from the filing

Item 1.01. Entry Into a Material Definitive Agreement. On May 24, 2023, Dana Financing Luxembourg S.à r.l. (the “Issuer”), a wholly-owned subsidiary of Dana Incorporated (“Dana”), closed its previously announced offering of €425,000,000 in aggregate principal amount of its 8.500% Senior Notes due 2031 (the “Notes”). The Notes were issued pursuant to an Indenture, dated as of May 24, 2023 (the “Indenture”), among the Issuer, Dana, as guarantor, Computershare Trust Company, N.A., as trustee, and Elavon Financial Services DAC, as paying agent, registrar and transfer agent.

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Source: SEC EDGAR

accession 0000950142-23-001526

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