Latham Represents Allison Transmission in US$500 Million Senior Notes Offering and US$1.2 Billion Senior Secured Incremental Term Loan Facility

Allison Transmission Holdings, Inc. (NYSE: ALSN) has announced that its wholly owned subsidiary, Allison Transmission, Inc., priced its offering of US$500 million in aggregate principal amount of 5.875% Senior Notes due 2033 on November 6, 2025, in a private placement exempt from registration under the Securities Act of 1933. The company also announced that it priced its new senior secured incremental term loan facility in an aggregate principal amount of US$1,200 million, which will bear interest at a rate of Term SOFR plus 1.75%. The Issuer intends to use the net proceeds from the Notes Offering and borrowings under the Incremental Term Loan Facility and its senior secured revolving credit facility, together with cash on hand and anticipated future cash flow, to finance the consummation of the company’s acquisition of the off-highway business of Dana Incorporated and to pay related fees, costs, and expenses. The consummation of the Notes Offering is expected to occur on or about November 21, 2025, subject to customary conditions, and the Incremental Term Loan Facility is expected to close concurrently with the closing of the Dana Business Acquisition.

Latham & Watkins LLP represents Allison in the transactions with a Capital Markets team led by partner Jason Licht and counsels Christopher Cronin and Jess Lennon, with associates Jack Anderson, Emily Marshall, and Wyatt Wisnosky, and a finance team led by partners Jeff Chenard and Manu Gayatrinath and counsel Marie Greenman, with associates Laura Edwards and Samantha Kosarzycki. Advice was provided on corporate matters by partners Paul Sheridan and Dan Breslin; on public company representation matters by partner Brian Miller and counsel Jonathan Drory, with associate Joann Murphy; and on tax matters by partner Katharine Moir, with associates Dennis Poehland and Jake Meninga.