Dana boosts revolver by $150 million, extends maturity to March 2026

By Rebecca Melvin

Concord, N.H., March 29 – Dana Inc. and Dana International Luxembourg Sarl amended their credit and guarantee agreement with Citibank NA as administrative agent and collateral agent, increasing the amount committed under the revolving facility by $150 million to $1.15 billion, according to an 8-K filing with the Securities and Exchange Commission.

The fifth amendment to the June 9, 2016 credit and guaranty agreement and third amendment to the security agreement also extended the revolver’s maturity by 1.5 years to March 2026.

The agreement was entered into by the borrowers – with Dana International Luxembourg and certain subsidiaries designated as revolving credit borrowers – and the lenders on March 25.

In addition to Citibank, the issuing banks are Goldman Sachs Bank USA, Bank of America NA and JPMorgan Chase Bank NA. They will be joined by lenders from time to time including Barclays Bank plc, Credit Suisse AG, Cayman Island Branch, Royal Bank of Canada, BMO Harris Bank NA and Mizuho Bank Ltd. as joint lead arrangers and joint bookrunners, Citizens Bank NA and Keybank NA as co-syndication agents and Fifth Third Bank as documentation agent.

Dana is a Maumee, Ohio-based supplier of automotive transmissions.

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