Dana to pay down revolver borrowings with notes proceeds

By Sara Rosenberg

New York, June 16 – Dana Inc. expects to repay $100 million in borrowings under its revolving credit facility using proceeds from a $400 million senior notes offering, according to a market source.

Remaining proceeds from the notes will be used for general corporate purposes.

Dana is a Maumee, Ohio-based provider of power-conveyance and energy-management solutions that are engineered to improve the efficiency, performance, and sustainability of light vehicles, commercial vehicles, and off-highway equipment.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.