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Dana Closes Senior Notes Offering and Completes Tender Offer

Paul, Weiss represented global auto parts supplier Dana Inc. in its private offering by its subsidiary Dana Financing Luxembourg S.à r.l. of $400 million in aggregate principal amount of 5.750% Senior Notes due 2025. As part of the offering, the issuer entered into a cross-currency U.S. dollar-euro basis swap, which effectively fixed the interest cost on the notes at 3.85%. The initial purchasers in the notes offering were Citigroup, J.P. Morgan, Goldman Sachs & Co., BofA Merrill Lynch, Barclays, UBS Investment Bank and RBC Capital Markets.

Concurrently with the notes offering, Dana launched a tender offer to purchase a portion of its outstanding 5.375% Senior Notes due 2021. On April 4, Dana purchased $100 million in aggregate principal amount of the 2021 Notes pursuant to the tender offer.

The Paul, Weiss team included corporate partners David Huntington, Manuel Frey and Thomas de la Bastide III; international trade counsel Richard Elliott; and environmental counsel William O’Brien.

April 4, 2017

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