Metaldyne Performance board OKs term loan debt reduction program

By Tali Rackner

Norfolk, Va., Aug. 4– Metaldyne Performance Group Inc. said its board of directors approved on Wednesday a debt reduction plan, authorizing the company to purchase up to $10 million of outstanding debt, including the dollar-denominated term loan, euro-denominated term loan or registered notes, according to a 10-Q filing with the Securities and Exchange Commission.

The transactions may be made in open market purchases, privately negotiated transactions or otherwise.

Metaldyne is a Plymouth, Mich.-based manufacturer of highly engineered metal-based components for engine, transmission and driveline applications in the automotive and light truck markets.

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