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Allison plans to repay $400 million on term B-3 loan, eyes amendment
By Sarah Lizee
Olympia, Wash., March 6 – Allison Transmission Holdings, Inc. wholly owned subsidiary Allison Transmission, Inc. plans to repay $400 million of its term B-3 loan due 2022 using proceeds from a new offering and cash on hand, according to an 8-K filing with the Securities and Exchange Commission.
Allison Transmission Holdings intends for the subsidiary to offer a minimum of $400 million of senior notes due 2030 in a private placement.
In addition, Allison Transmission is seeking an amendment to its credit agreement to reduce the interest rate margin on the term B-3 loan, in addition to other provisions.
Allison Transmission is an Indianapolis-based automatic transmission company and supplier of hybrid-propulsion systems.
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