American Axle Enters Material Definitive Agreement
Ticker: DCH · Form: 8-K · Filed: May 17, 2024 · CIK: 1062231
Sentiment: neutral
Topics: material-definitive-agreement, financial-obligation
Related Tickers: AXL
TL;DR
AXL signs new deal, expect financial moves.
AI Summary
On May 16, 2024, American Axle & Manufacturing Holdings, Inc. entered into a material definitive agreement related to a direct financial obligation. The company, headquartered in Detroit, Michigan, filed this 8-K report with the SEC.
Why It Matters
This filing indicates a significant financial commitment or obligation for American Axle, which could impact its financial standing and future operations.
Risk Assessment
Risk Level: medium — Entering into material definitive agreements can introduce new financial obligations or risks that may not be immediately apparent.
Key Players & Entities
- AMERICAN AXLE & MANUFACTURING HOLDINGS, INC. (company) — Registrant
- May 16, 2024 (date) — Date of earliest event reported
- Detroit, Michigan (location) — Principal Executive Offices
- 313-758-2000 (phone_number) — Registrant's Telephone Number
FAQ
What type of material definitive agreement did American Axle & Manufacturing Holdings, Inc. enter into?
The filing states that the company entered into a material definitive agreement related to a direct financial obligation or an obligation under an off-balance sheet arrangement.
When was the earliest event reported in this 8-K filing?
The earliest event reported was on May 16, 2024.
Where are American Axle & Manufacturing Holdings, Inc.'s principal executive offices located?
The principal executive offices are located at One Dauch Drive, Detroit, Michigan 48211-1198.
What is the IRS Employer Identification No. for American Axle & Manufacturing Holdings, Inc.?
The IRS Employer Identification No. is 38-3161171.
What is the Commission File Number for American Axle & Manufacturing Holdings, Inc.?
The Commission File Number is 1-14303.
Filing Stats: 957 words · 4 min read · ~3 pages · Grade level 11.9 · Accepted 2024-05-17 17:25:48
Key Financial Figures
- $0.01 — ch registered Common Stock, par value $0.01 per share AXL The New York Stock Exch
- $648 million — nche B Term Lenders agreed to provide a $648 million term loan B facility (the " New Term Lo
- $250 million — aggregate principal amount in excess of $250 million is then outstanding and has a maturity
Filing Documents
- ss3397139_8k.htm (8-K) — 30KB
- ss3397139_ex1001.htm (EX-10.1) — 3368KB
- 0000947871-24-000495.txt ( ) — 3861KB
- axl-20240516.xsd (EX-101.SCH) — 3KB
- axl-20240516_lab.xml (EX-101.LAB) — 33KB
- axl-20240516_pre.xml (EX-101.PRE) — 22KB
- ss3397139_8k_htm.xml (XML) — 3KB
01
Item 1.01. Entry into a Material Definitive Agreement On May 16, 2024, American Axle & Manufacturing Holdings, Inc. (" Holdings "), American Axle & Manufacturing, Inc., a wholly owned subsidiary of Holdings (" AAM ") entered into the Refinancing Facility Agreement No. 2 (the " Refinancing Facility Agreement "), among AAM, as borrower, Holdings, each financial institution party thereto as a lender (the " New Tranche B Term Lenders ") and JPMorgan Chase Bank, N.A., as administrative agent (the " Administrative Agent "), amending the Amended and Restated Credit Agreement, dated as of March 11, 2022 (as amended, amended and restated, supplemented or otherwise modified from time to time, the " Amended and Restated Credit Agreement "), among AAM, as borrower, Holdings, each financial institution party thereto from time to time as a lender, and the Administrative Agent. Pursuant to the Refinancing Facility Agreement, the New Tranche B Term Lenders agreed to provide a $648 million term loan B facility (the " New Term Loan B Facility "), the proceeds from which, together with cash on hand of AAM, were used to (a) prepay the entire principal amount of the outstanding term loan B facility (the " Existing Term Loan B Facility "), (b) pay all accrued and unpaid interest due under the Existing Term Loan B Facility and (c) pay all fees, costs and expenses payable in connection therewith. The New Term Loan B Facility will mature on December 13, 2029; provided that if on any date prior to such date (a " Reference Date ") any of AAM's existing senior notes or any indebtedness incurred to refinance any such senior notes in an aggregate principal amount in excess of $250 million is then outstanding and has a maturity date that is on or prior to 91 days after the Reference Date, the New Term Loan B Facility will instead mature on the Reference Date (or, if such date is not a business day, the immediately preceding business day). The Term SOFR loans under the New Term Loan B Facilit
03
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant The information in Item 1.01 of this Current Report is incorporated by reference into this Item 2.03.
Financial Statements and Exhibits
Financial Statements and Exhibits (d) Exhibits Exhibit No. Description 10.1 Refinancing Facility Agreement No. 2, dated as of May 16, 2024, among American Axle & Manufacturing Holdings, Inc., American Axle & Manufacturing, Inc., certain subsidiaries of American Axle & Manufacturing Holdings, Inc. identified therein, each financial institution party thereto as a lender and JPMorgan Chase Bank, N.A., as Administrative Agent. 104 Cover Page Interactive Data File (formatted in Inline XBRL).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized. AMERICAN AXLE & MANUFACTURING HOLDINGS, INC. Date: May 17, 2024 By: /s/ Christopher J. May Christopher J. May Executive Vice President & Chief Financial Officer