Bondholders to Humvee Maker Hire Akin as DoD Mulls Pullback

Bondholders to AM General are working with law firm Akin Gump Strauss Hauer & Feld as the manufacturer of Humvee military vehicles grapples with a potential pullback in demand from the US Department of Defense, according to people familiar with the matter, who asked not to be named discussing private information.

AM General makes Humvees and Joint Light Tactical Vehicles, known as JLTVs, and supplies them to the DoD. The company’s $600 million bond due in 2028 has plunged from near 95 cents on the dollar to near 70 cents in recent weeks after the Pentagon hinted that it could ...