Dana Corporation Announces Pricing of Tender Offer
08 Dezember 2004 - 9:54PM
PR Newswire (US)
Dana Corporation Announces Pricing of Tender Offer TOLEDO, Ohio,
Dec. 8 /PRNewswire-FirstCall/ -- Dana Corporation (NYSE:DCN)
("Dana") announced today the consideration to be paid in its tender
offer for its $250 million of 10-1/8% Notes due 2010 (the "10-1/8%
Notes"), EUR 200 million of 9% EUR Notes due 2011 (the "9% EUR
Notes") and $575 million of 9% USD Notes due 2011 (the "9% USD
Notes") (collectively, the "Notes"). (Photo:
http://www.newscom.com/cgi-bin/prnh/19990903/DANA ) Holders who
tendered their Notes by the applicable early tender date will
receive the applicable Total Consideration (as set forth in the
table below), subject to the terms and conditions set forth in the
Offer to Purchase and Consent Solicitation Statement dated November
15, 2004 (as amended by the Supplement dated November 30, 2004, the
"Amended Offer to Purchase"), which includes the applicable Early
Tender Payment. Holders who tender their Notes after the applicable
early tender date and at or prior to 5:00 p.m., New York City time,
on December 22, 2004 (the "Expiration Date") will receive the
applicable Tender Offer Consideration (as set forth in the table
below), subject to the terms and conditions set forth in the
Amended Offer to Purchase, but will not receive the Early Tender
Payment. The following table sets forth certain material terms of
the tender offer. Principal Tender Offer Early Total Title of
Outstanding Amount Consider- Tender Consider- Security Amount
Tendered ation(1) Payment(1) ation(1) 10-1/8% Notes due 2010 (USD)
$250,000,000 $169,502,000(2) $1,078.58 $50.00 $1,128.58 9.00% Euro
Notes due 2011 (EUR) 200,000,000 163,658,000(3) 1,219.64 50.00
1,269.64 9.00% Notes due 2011 (USD) $575,000,000 $445,430,000(2)
$1,180.37 $50.00 $1,230.37 (1) Per $1,000 principal amount, or EUR
1,000 principal amount, as the case may be, of each issue of Notes
that is accepted for purchase. (2) As of 5:00 p.m., New York City
Time, on November 29, 2004. (3) As of 5:00 p.m., New York City
Time, on December 3, 2004. In addition, holders of Notes who
delivered valid tenders and whose Notes are accepted for payment
will receive accrued and unpaid interest from the last interest
payment date to, but not including, the applicable settlement date.
Holders who validly tendered their Notes by the applicable early
tender date will receive payment on the early settlement date,
which is expected to be on or about December 10, 2004. Holders who
tender their Notes after the applicable early tender date, but on
or prior to the expiration date, and whose Notes are accepted for
payment will receive payment on the final settlement date, which is
expected to be on or about December 23, 2004. Withdrawal rights
with respect to tendered Notes have expired. Accordingly, any Notes
previously or hereafter tendered may not be withdrawn. The tender
offer is scheduled to expire at 5:00 p.m., New York City time, on
December 22, 2004, unless extended or earlier terminated by Dana.
Dana has retained Banc of America Securities, Deutsche Bank
Securities and J.P. Morgan Securities to act as the joint-lead
dealer managers in connection with the tender offer and
solicitation agents in connection with the consent solicitation.
Banc of America Securities (the coordinator for the offer and
consent solicitation) can be contacted at (+1) 888-292-0070 (U.S.
toll free), (+1) 212-847-5834 (collect), or (+44) 20-7174-4737.
Deutsche Bank Securities can be contacted at (+1) 866-627-0391
(U.S. toll free), (+1) 212-250-2955 (collect), or (+44)
20-7545-8011. J.P. Morgan Securities can be contacted at (+1)
866-834-4666 (U.S. toll free), (+1) 212-834-3424 (collect) or (+44)
20-7742-7506. Holders can request documentation from D.F. King
& Co., Inc. and D.F. King (Europe) Limited, the information
agents for the offer, at (+1) 800-859-8509 (U.S. toll free), (+1)
212-269-5550 (collect), and (+44) 20-7920-9720. About Dana
Corporation Dana Corporation is a global leader in the design,
engineering, and manufacture of value-added products and systems
for automotive, commercial, and off-highway vehicles. Delivering on
a century of innovation, Dana employs approximately 45,000 people
worldwide dedicated to advancing the science of mobility. Founded
in 1904 and based in Toledo, Ohio, Dana operates technology,
manufacturing, and customer-service facilities in 30 countries.
Sales from continuing operations totaled $7.9 billion in 2003.
Dana's Internet address is: http://www.dana.com/.
http://www.newscom.com/cgi-bin/prnh/19990903/DANA
http://photoarchive.ap.org/ DATASOURCE: Dana Corporation CONTACT:
Michelle L. Hards of Dana Corporation, +1-419-535-4636, or Web
site: http://www.dana.com/ Company News On-Call:
http://www.prnewswire.com/comp/226839.html
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