New Issue - American Axle sells $300 mln notes

Newswire

Feb 22 (Reuters) - American Axle & Manufacturing Inc. on Thursday sold $300 million in 10-year senior notes, market sources said. J.P. Morgan Chase & Co. and Banc of America Securities LLC were the joint lead managers for the sale, the sources said. BORROWER: AMERICAN AXLE & MANUFACTURING INC. AMT $300 MLN COUPON 7.875 PCT MATURITY 3/1/2017 TYPE SR NOTES ISS PRICE 100 FIRST PAY 9/1/2007 MOODY'S Ba3 YIELD 7.875 PCT PAY FREQ SEMI-ANNUAL S&P DOUBLE-B SPREAD 314 BPS ...

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