Allison Transmission to repay $700 million of term loans via new notes

By Tali Rackner

Norfolk, Va., Sept. 14 – Allison Transmission, Inc. plans to repay about $700 million of its outstanding term loans with the net proceeds from a $500 million senior note offering and other funds, according to a press release from parent company Allison Transmission Holdings, Inc.

Proceeds from the eight-year notes will also be used to pay related transaction fees and expenses.

Indianapolis-based Allison Transmission manufactures fully automatic transmissions for medium- and heavy-duty commercial vehicles as well as hybrid-propulsion systems for city buses.

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