"Cravath Advises on $2.1 Billion High-Yield Notes Offering for American Axle & Manufacturing"

"Cravath represented initial purchasers in a $2.1 billion high-yield notes offering for American Axle & Manufacturing, a subsidiary of American Axle & Manufacturing Holdings, which specializes in automotive technologies. Proceeds will support the company's merger with Dowlais Group plc. The transaction was completed on October 3, 2025, with a team of partners and associates from Cravath involved in various legal matters."

Cravath, Swaine & Moore LLP represented the initial purchasers in a significant transaction involving American Axle & Manufacturing, Inc., a subsidiary of American Axle & Manufacturing Holdings, Inc. This transaction entailed a $2.1 billion offering of 144A/Reg. S high-yield senior secured notes and senior notes. The proceeds from this offering are intended to support American Axle Manufacturing Holdings, Inc.’s pending business combination with Dowlais Group plc. The transaction successfully closed on October 3, 2025. The Cravath team included partners William V. Fogg and Ryan J. Patrone, along with associates Courtney T. Seager, Laureano Genin, Abby Baskin, and E. Celeste Kearney, who worked on capital markets matters. Partner Andrew T. Davis and associate Frederick Schemel handled tax matters, while partner Matthew Morreale focused on environmental matters.

"Cravath Advises on $2.1 Billion High-Yield Notes Offering for American Axle & Manufacturing"

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