DANA Inc 8-K

What Happened

• Dana Incorporated (DAN) announced on its Form 8-K that on January 7, 2026 it settled previously announced cash tender offers and purchased and canceled portions of six series of its senior notes. The Company paid 100% of principal for accepted notes. Purchases were funded with proceeds from the previously announced sale of its off‑highway business.
• On January 8, 2026 Dana completed the redemption of all remaining 5.375% Senior Notes due 2027 and 5.625% Senior Notes due 2028 at 100% of principal plus accrued interest; after the redemption no 2027 or 2028 notes remain outstanding.

Key Details

• Tender results (validly tendered at expiration): $138,276,000 of 2027 Notes (34.6% outstanding); $142,366,000 of 2028 Notes (35.6%); €252,636,000 of 2029 Notes (77.7%); $348,685,000 of 2030 Notes (87.2%); €8,569,000 of 2031 Notes (2.0%); $328,498,000 of 2032 Notes (93.9%).
• Notes actually purchased on settlement (some series prorated): $138,276,000 of 2027; $142,366,000 of 2028; €140,725,000 of 2029 (proration ≈55.7%); $173,200,000 of 2030 (proration ≈49.7%); €8,569,000 of 2031; $151,548,000 of 2032 (proration ≈46.1%).
• All purchased notes were canceled. Redemption of remaining 2027 and 2028 notes occurred January 8, 2026 at 100% of principal plus accrued interest.

Why It Matters

• These actions reduce Dana’s near‑term debt outstanding and eliminate the 2027 and 2028 maturities entirely, changing the company’s debt maturity profile and interest obligations in the short term.
• The purchases and redemptions were funded from proceeds of the off‑highway business sale, showing management used transaction proceeds to pay down debt rather than for other uses; this is relevant to creditors and equity investors monitoring leverage and liquidity.