Dauch Corp (DCH): debt financing — American Axle issues $2.1B in notes to fund Dowlais combination, redeem existing debt

Dauch Corp

Issued $850M of 6.375% senior secured notes due 2032 and $1.25B of 7.750% senior unsecured notes due 2033.
Net proceeds will fund the pending combination with Dowlais Group plc, related fees, and expenses.
Proceeds also to redeem $500M of 6.50% Senior Notes due 2027 and partially redeem $150M of 6.875% Notes due 2028.
Escrow accounts established for notes until closing conditions are met; special mandatory redemption if not closed by June 29, 2026.
Existing bridge credit agreements totaling $1.343B terminated on October 3, 2025.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

Dauch Corp incurred senior notes of $850 million aggregate principal amount of 6.375% senior secured notes due 2032 with U.S. Bank Trust Company, National Association at 6.375% maturing October 15, 2032.

Instrument: senior notes
Principal: $850 million aggregate principal amount of 6.375% senior secured notes due 2032
Counterparty: U.S. Bank Trust Company, National Association
Rate: 6.375%
Maturity: October 15, 2032
Event: incurrence

Exact text from the filing

On October 3, 2025, American Axle & Manufacturing, Inc. (the “Issuer”), a Delaware corporation and wholly owned subsidiary of American Axle & Manufacturing Holdings, Inc. (NYSE: AXL) (the “Company”) issued $850 million in aggregate principal amount of 6.375% senior secured notes due 2032 (the “Secured Notes”)

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

Dauch Corp incurred senior notes of $1.25 billion in aggregate principal amount of 7.750% senior unsecured notes due 2033 with U.S. Bank Trust Company, National Association at 7.750% maturing October 15, 2033.

Instrument: senior notes
Principal: $1.25 billion in aggregate principal amount of 7.750% senior unsecured notes due 2033
Counterparty: U.S. Bank Trust Company, National Association
Rate: 7.750%
Maturity: October 15, 2033
Event: incurrence

Exact text from the filing

and $1.25 billion in aggregate principal amount of 7.750% senior unsecured notes due 2033 (the “Unsecured Notes,” and together with the Secured Notes, the “Notes”).

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Dauch Corp filing history →

Source: SEC EDGAR

accession 0001104659-25-096647

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