Latham & Watkins Represents Allison Transmission in US$500 Million Senior Notes Offering and US$1.2 Billion Senior Secured Incremental Term Loan Facility

Latham & Watkins LLP represented Allison Transmission Holdings, Inc. (NYSE: ALSN) and its wholly owned subsidiary Allison Transmission, Inc. in connection with a debt financing package to support Allison's acquisition of the off‑highway business of Dana Incorporated. Allison Transmission, Inc. priced an offering of US$500 million in aggregate principal amount of 5.875% Senior Notes due 2033 on November 6, 2025. The notes were placed in a private placement exempt from registration under the Securities Act of 1933, and the consummation of the notes offering is expected to occur on or about November 21, 2025, subject to customary conditions. In addition, Allison priced a new senior secured incremental term loan facility in an aggregate principal amount of US$1,200 million, which will bear interest at a rate of Term SOFR plus 1.75%. The issuer intends to use the net proceeds from the notes offering, borrowings under the incremental term loan facility and its senior secured revolving credit facility, together with cash on hand and anticipated future cash flow, to finance the consummation of the acquisition of Dana Incorporated’s off‑highway business and to pay related fees, costs and expenses. The incremental term loan facility is expected to close concurrently with the closing of the Dana business acquisition. Latham & Watkins LLP represented Allison Transmission Holdings, Inc. and Allison Transmission, Inc. with a team composed by: Capital Markets team led by partner Jason Licht, counsels Christopher Cronin and Jess Lennon, and associates Jack Anderson, Emily Marshall and Wyatt Wisnosky; Finance team led by partners Jeff Chenard and Manu Gayatrinath, counsel Marie Greenman, and associates Laura Edwards and Samantha Kosarzycki; partners Paul Sheridan and Dan Breslin on corporate matters; partner Brian Miller and counsel Jonathan Drory, with associate Joann Murphy, on public company representation matters; and partner Katharine Moir, with associates Dennis Poehland and Jake Meninga, on tax matters.

Latham & Watkins Represents Allison Transmission in US$500 Million Senior Notes Offering and US$1.2 Billion Senior Secured Incremental Term Loan Facility

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