Dana enters $500M delayed draw term loan to redeem 8.5% Senior Notes due 2031

DANA Inc

New $500M senior secured delayed draw term loan A facility; matures 364 days after borrowing.
Proceeds to redeem all outstanding 8.500% Senior Notes due 2031 at 104.250% of principal plus accrued interest.
Redemption expected on or around July 31, 2026; quarterly amortization of 10% of outstanding begins Dec 31, 2026.
Facility is secured by substantially all assets of Dana and domestic guarantors; interest rate same as revolving credit advances.
Refinancing reduces interest cost from 8.5% to lower floating rate; improves cash flow.

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