American Axle & Manufacturing amends revolver, pushing out maturity

By Sara Rosenberg

New York, Dec. 7 - American Axle & Manufacturing Holdings Inc. amended its revolving credit facility, extending the maturity of approximately $243 million of the commitments to June 2013, according to an 8-K filed with the Securities and Exchange Commission on Monday.

The amendment was completed on Dec. 4.

JPMorgan is the administrative agent on the deal.

The effectiveness of the amendment is subject to the satisfaction of certain conditions, including the closing of a senior secured notes offering.

Proceeds from the notes will be used to repay all amounts outstanding under an amended and restated credit facility and to repay some revolver borrowings.

In connection with these transactions, the size of the revolver is being reduced.

American Axle is a Detroit-based producer of driveline and drivetrain systems and related components and chassis modules for the automotive industry.

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