10:03 AM EST, 02/24/2025 (MT Newswires) -- American Axle & Manufacturing ( AXL ) said Monday it has secured syndicated bridge financing to facilitate its planned merger with Dowlais Group and amended its credit agreement.

The financing package consists of an $843 million term loan B, an $843 million first lien senior secured bridge facility, and a $500 million second lien senior secured bridge facility.

The company said it has also amended its credit agreement, to extend the maturity of its revolving credit facility and term loan A with a new five-year term and increase the commitments under the revolving credit facility to nearly $1.5 billion, upon closing of the merger.

Shares of American Axle & Manufacturing ( AXL ) were down 3.2% in recent Monday trading.

Price: 5.42, Change: -0.18, Percent Change: -3.21