Dana Inc. launches $100 million add-on bond offering
Car technology maker Dana Inc. said Thursday it has launched a registered offering of an additional $100 million of its existing 5.375% senior notes due 2027. Proceeds of the deal will be used for general corporate purposes. There are 12 banks underwriting the deal, led by Citigroup. On Tuesday, Dana launched a $400 million offering of bonds that mature in 2028. Shares were not active premarket, but have fallen 34% in the year to date, while the S&P 500 has fallen 4%.
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