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
investors@mpgdriven.com
248-440-9503
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SOURCE Metaldyne Performance Group Inc.