Dana completes tender offers for $357.9 million of 2030 and 2032 senior notes
Dana Incorporated announced that its cash tender offers for all outstanding 4.250% senior notes due 2030 and 4.500% senior notes due 2032 expired on November 13, 2026. Holders tendered $357,873,000 of principal, which the company will purchase at a consideration of $975.28 per $1,000 for the 2030 notes and $976.35 per $1,000 for the 2032 notes, with accrued interest paid on the settlement date of November 17, 2026. The company may defease any remaining notes after settlement, removing most covenants. J.P. Morgan Securities and Barclays Capital acted as dealer managers for the offers.
Why it matters
The company will pay approximately $357.9 million in cash plus accrued interest, reducing its debt load. Defeasance of remaining notes could improve future covenant flexibility for Dana.
Key facts
- 1The tender offers expired at 5:00 p.m. New York time on November 13, 2026. prnewswire.com
- 2Holders tendered $357,873,000 of aggregate principal amount of the 2030 and 2032 notes. prnewswire.com
- 3Consideration for the 2030 notes is $975.28 per $1,000 principal. prnewswire.com
- 4Consideration for the 2032 notes is $976.35 per $1,000 principal. prnewswire.com
- 5Accrued interest will be paid up to, but not including, the settlement date of November 17, 2026. prnewswire.com
- 6J.P. Morgan Securities LLC and Barclays Capital Inc. served as dealer managers for the offers. prnewswire.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.