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Dana Closes Senior Notes Offering
- Client News
- May 27, 2016
Practices
Paul, Weiss client Dana Holding Corporation, a worldwide
supplier of auto parts, closed a private offering by its wholly
owned subsidiary, Dana Financing Luxembourg S.à r.l., of $375
million in aggregate principal amount of 6.500% senior notes due
2026. In connection with the issuance of the notes, the issuer
entered into a cross-currency U.S. dollar-euro basis swap to hedge
against the resulting exposure to exchange rate fluctuations
between the U.S. dollar and the euro. The initial purchasers in the
notes offering were Citigroup, Goldman Sachs & Co., Bank of
America Merrill Lynch, Barclays, J.P. Morgan, UBS Investment Bank,
RBC Capital Markets and Citizens Capital Markets, Inc.
The Paul, Weiss team included corporate partners David
Huntington and Manuel Frey; tax partners David Mayo and
Patrick
Karsnitz; and environmental counsel William O'Brien.