Latham & Watkins Advises Allison Transmission Holdings, Inc. in US$1 Billion Senior Notes Offering

Allison Transmission Holdings, Inc. has announced that its wholly owned subsidiary, Allison Transmission, Inc. (the Issuer), priced its offering of US$1 billion in aggregate principal amount of 3.75% Senior Notes due 2031 on November 9, 2020 in a private placement exempt from registration under the Securities Act of 1933. The Issuer intends to use the net proceeds from the Offering, together with cash on hand, to redeem US$1 billion aggregate principal amount of its outstanding 5% Senior Notes due 2024 and to pay related fees and expenses. The closing of the Offering is expected to occur on or about November 19, 2020, subject to customary conditions.

Latham & Watkins LLP represented Allison Transmission in the offering with a Washington, D.C.-based capital markets team led by partners Rachel Sheridan and Jason Licht, with counsel Christopher Cronin and associates Jessica Lennon, Paul Alexander, and Kavita Satiya.