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Dana Incorporated reports news on its vehicle propulsion and powertrain businesses for light- and commercial-vehicle markets. The company designs and manufactures drive systems, electrodynamic technologies, thermal-management products, and sealing solutions for vehicle manufacturers and related aftermarkets.
Recurring updates for Dana Incorporated include financial results, cost-savings actions, new business wins, capital allocation through dividends and share repurchases, debt reduction, and portfolio changes following the completed sale of the Off-Highway business. Company communications also cover the Dana 2030 strategic plan, margin and cash-flow targets, governance matters, and leadership-transition disclosures.
Dana announced a registered offering of $400 million in senior unsecured notes due 2028, subject to market conditions. The proceeds will be utilized to repay borrowings under the revolving credit facility and for general corporate purposes. Dana plans to terminate its undrawn $500 million bridge facility established in April 2020. The offering is managed by several financial institutions and follows a previously filed automatic shelf registration statement with the SEC.