ALLISON TRANSMISSION HOLDINGS, INC. (NYSE:ALSN) Files An 8-K Regulation FD DisclosureItem 7.01.
On March16, 2018, Allison Transmission Holdings, Inc. announced that its wholly owned subsidiary, Allison Transmission, Inc. (the “Borrower”), has received commitments with respect to the entire principal amount of its Term B-3 Loan due 2022 (the “Term B-3 Loan”) in connection with the previously announced amendment (the “Amendment”) to its credit agreement to reduce the interest rate margin on the Term B-3 Loan and amend certain other provisions thereof. The Amendment is expected to close on March21, 2018, subject to customary closing conditions.
In addition, the Borrower has elected not to pursue the previously announced offering of a minimum of $400million in aggregate principal amount of senior unsecured notes due 2030, and will accordingly not be prepaying any portion of the Term B-3 Loan in connection with the Amendment.
The information contained in this Item 7.01 is being furnished and shall not be deemed “filed” for purposes of Section18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as expressly set forth by specific reference in such filing.
This Current Report contains forward-looking statements. All statements other than statements of historical fact contained in this Current Report are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “expect,” “plans,” “project,” “anticipate,” “believe,” “estimate,” “predict,” “intend,” “forecast,” “could,” “potential,” “continue” or the negative of these terms or other similar terms or phrases. Forward-looking statements are not guarantees of future performance and involve known and unknown risks. Factors which may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made include, but are not limited to: risks related to the Amendment, including that such transactions may not occur; risks related to our substantial indebtedness; uncertainty in the global regulatory and business environments in which we operate; our participation in markets that are competitive; the highly cyclical industries in which certain of our end users operate; the failure of markets outside North America to increase adoption of fully-automatic transmissions; the concentration of our net sales in our top five customers and the loss of any one of these; future reductions or changes in government subsidies for hybrid vehicles and other external factors impacting demand; U.S. and foreign defense spending; general economic and industry conditions; the discovery of defects in our products, resulting in delays in new model launches, recall campaigns and/or increased warranty costs and reduction in future sales or damage to our brand and reputation; our ability to prepare for, respond to and successfully achieve our objectives relating to technological and market developments, competitive threats and changing customer needs; risks associated with our international operations; labor strikes, work stoppages or similar labor disputes, which could significantly disrupt our operations or those of our principal customers; and other risks and uncertainties associated with our business described in our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that the expectations will be attained or that any deviation will not be material. All information is as of the date of this Current Report, and we undertake no obligation to update any forward-looking statement to conform the statement to actual results or changes in expectations.
About ALLISON TRANSMISSION HOLDINGS, INC. (NYSE:ALSN)
Allison Transmission Holdings, Inc. and its subsidiaries design and manufacture commercial and defense fully-automatic transmissions. The Company manufactures fully-automatic transmissions for medium- and heavy-duty commercial vehicles and medium-and heavy-tactical the United States defense vehicles. The Company operates through manufacture and distribution of fully-automatic transmissions segment. The Company’s transmissions are used in a range of applications, including on-highway trucks (distribution, refuse, construction, fire and emergency), buses (primarily school, transit and hybrid-transit), motorhomes, off-highway vehicles and equipment (energy, mining and construction) and defense vehicles (wheeled and tracked). The Company’s transmissions are sold under the Allison Transmission brand name and remanufactured transmissions are sold under the ReTran brand name. The Company has developed over 100 different models that are used in over 2,500 different vehicle configurations. ALLISON TRANSMISSION HOLDINGS, INC. (NYSE:ALSN) Recent Trading Information
ALLISON TRANSMISSION HOLDINGS, INC. (NYSE:ALSN) closed its last trading session up +0.47 at 39.01 with shares trading hands.
