OREANDA-NEWS. Dana Holding Corporation (NYSE: DAN) ("Dana") today announced that its wholly owned subsidiary, Dana Financing Luxembourg S.? r.l. (the "Issuer"), has closed its previously announced offering of $375 million of 6.500% Senior Notes due 2026 (the "2026 Notes"). In connection with the issuance of the 2026 Notes, the Issuer entered into a U.S. dollar–Euro swap, which has effectively fixed the interest cost to Dana on the 2026 Notes at 5.14%. The 2026 Notes are fully and unconditionally guaranteed by Dana. Dana intends to use the proceeds from the offering to redeem all of its outstanding 6.750% Notes due 2021, to pay related fees and expenses and for general corporate purposes, which may include repayment of indebtedness.

Dana is a world leader in the supply of highly engineered drivetrain, sealing, and thermal-management technologies that improve the efficiency and performance of vehicles with both conventional and alternative-energy powertrains.  Serving three primary markets—passenger vehicle, commercial truck, and off-highway equipment—Dana provides the world's original-equipment manufacturers and the aftermarket with local product and service support through a network of nearly 100 engineering, manufacturing, and distribution facilities.  Founded in 1904 and based in Maumee, Ohio, the company employs more than 23,000 people in 25 countries on six continents.  In 2015, Dana generated sales of nearly $6.1 billion.