American Axle & Manufacturing, Inc.’s $2.1 Billion High-Yield Senior Secured Notes and Senior Notes Offering

Cravath represented the initial purchasers in connection with the $2.1 billion 144A/Reg. S high-yield senior secured notes and senior notes offering of American Axle & Manufacturing, Inc., a wholly-owned subsidiary of American Axle & Manufacturing Holdings, Inc., a leading global tier 1 automotive and mobility supplier that designs, engineers and manufactures driveline and metal forming technologies to support electric, hybrid and internal combustion vehicles. A portion of the proceeds of the offering will be used in connection with American Axle Manufacturing Holdings, Inc.’s pending business combination with Dowlais Group plc. The transaction closed on October 3, 2025.

The Cravath team included partners William V. Fogg and Ryan J. Patrone and associates Courtney T. Seager, Laureano Genin, Abby Baskin and E. Celeste Kearney on capital markets matters; partner Andrew T. Davis and associate Frederick Schemel on tax matters; and partner Matthew Morreale on environmental matters.