Metaldyne Performance Group Inc. Announces Intent to Reprice Existing Term Loan B and Enter into New Euro-Tranche Transaction
PLYMOUTH, Mich., April 21, 2015 /PRNewswire/ -- Metaldyne Performance Group Inc. (NYSE: MPG), a leading provider of highly-engineered components for use in powertrain and safety-critical platforms for the global light, commercial and industrial vehicle markets, is seeking to reprice the term loans outstanding under its existing senior secured credit facility. In addition, MPG is seeking to raise up to €250 million in aggregate principal amount of new Euro-denominated term loans, the proceeds of which will be used to repay a portion of its existing Dollar-denominated term loans.
There can be no assurances that MPG will be successful in its marketing efforts or that it will be able to enter into any of the proposed transactions described above. Closing of such transactions is subject to market conditions, as well as the negotiation and execution of definitive documents and the satisfaction of customary closing conditions.
About MPG
Metaldyne Performance Group Inc. is a leading provider of highly-engineered components for use in powertrain and safety-critical platforms for the global light, commercial and industrial vehicle markets. MPG produces these components using complex metal-forming manufacturing technologies and processes for a global customer base of vehicle OEMs and Tier I suppliers. MPG's metal-forming manufacturing technologies and processes include aluminum die casting, forging, iron casting and powder metal forming as well as advanced machining and assembly. Headquartered in Plymouth, Michigan, MPG has a global footprint spanning 61 locations in 13 countries across North America, South America, Europe and Asia with approximately 12,000 employees. For more information, visit www.mpgdriven.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words such as "expects," "intends," "anticipates," "plans," "believes," "seeks," "estimates," "will" or words of similar meaning and include, but are not limited to, statements regarding the outlook for the Company's future business and financial performance. Forward-looking statements are based on management's current expectations and assumptions, which are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Actual outcomes and results may differ materially due to global political, economic, business, competitive, market, regulatory and other factors and risks, including those described under the heading "Risk Factors" in our filings with the Securities and Exchange Commission. The Company undertakes no obligation to update or revise any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events, except as otherwise may be required by law.
Contact
Investor Relations
Paul Suber
Vice President, Business Development & Investor Relations
[email protected]
248-440-9503
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SOURCE Metaldyne Performance Group Inc.
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