Dana Incorporated announced on November 13, 2026 the pricing, expiration, and results of its tender offers to purchase for cash its outstanding 4.250% Senior Notes due 2030 and 4.500% Senior Notes due 2032, with $357,873,000 aggregate principal amount validly tendered by the expiration date.

Key Highlights

  • Total tendered: $357,873,000 aggregate principal amount of Notes were validly tendered by the Expiration Date of 5:00 p.m., New York City time, on November 13, 2026.
  • 2030 Notes: $181,151,000 principal amount tendered and accepted out of $226,800,000 outstanding, at a Consideration of $975.28 per $1,000 principal amount.
  • 2032 Notes: $176,722,000 principal amount tendered and accepted out of $198,452,000 outstanding, at a Consideration of $976.35 per $1,000 principal amount.
  • Settlement Date: The company intends to pay the applicable Consideration and Accrued Interest on November 17, 2026, through which date interest will accrue on accepted Notes.
  • Potential defeasance: To the extent any Notes remain outstanding after the Offers, the company disclosed it currently intends, but is not obligated, to defease all covenants (except payment of principal and interest) on one or both series.
  • Dealer managers: J.P. Morgan Securities LLC and Barclays Capital Inc. served as dealer managers; D.F. King & Co., Inc. acted as tender and information agent.

Dana's Tender Offer Results: Pricing and Acceptance Details

Dana Incorporated (NYSE:DAN), based in Maumee, Ohio, disclosed the results of its tender offers for two series of senior notes, launched pursuant to an Offer to Purchase dated November 6, 2026. According to the filing, the Offers expired at 5:00 p.m., New York City time, on November 13, 2026. D.F. King & Co., Inc., the tender and information agent, reported that $357,873,000 aggregate principal amount of Notes were validly tendered and not validly withdrawn by the Withdrawal Deadline.

For the 4.250% Senior Notes due 2030 (CUSIP 235825AH9), the company disclosed that $181,151,000 out of $226,800,000 outstanding was tendered and accepted. The Consideration was set at $975.28 per $1,000 principal amount, calculated using a Reference Yield of 4.972% based on the 4.125% U.S. Treasury due August 31, 2030, with a fixed spread of 0 basis points. For the 4.500% Senior Notes due 2032 (CUSIP 235825AJ5), $176,722,000 out of $198,452,000 outstanding was tendered and accepted, at a Consideration of $976.35 per $1,000 principal amount, using a Reference Yield of 5.017% based on the 1.875% U.S. Treasury due February 15, 2032, also with a fixed spread of 0 basis points.

In addition to the stated Consideration, the filing noted that accepting Holders will also receive Accrued Interest from the last interest payment date up to, but not including, the Settlement Date of November 17, 2026, at which point interest will cease to accrue on accepted Notes. The filing also contained forward-looking statements, which the company characterized as subject to risks and uncertainties, with no obligation to update them after the date of the release.

What Was Disclosed

Dana Incorporated disclosed the expiration and results of tender offers for its 4.250% Senior Notes due 2030 and 4.500% Senior Notes due 2032, including the total amount tendered, per-note Consideration pricing, the planned Settlement Date of November 17, 2026, and the possibility of covenant defeasance for any remaining outstanding Notes.