AAM prices $2.1B debt offering (6.375% secured, 7.75% unsecured) for Dowlais deal

Dauch Corp

Priced $850M 6.375% senior secured notes due 2032 and $1.25B 7.750% senior unsecured notes due 2033.
Upsized secured from $843M and unsecured from $600M; total offering increased from ~$1.44B to $2.1B.
Proceeds to finance pending Dowlais combination, repay Dowlais debt, redeem $500M of 6.50% notes due 2027 and $150M of 6.875% notes due 2028.
Closing expected Oct 3, 2025; escrow provisions for secured notes and $600M of unsecured until Combination consummation.

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