Timken Co. (TKR) announced the pricing of a public offering of $250 million of 6.00% Senior Unsecured Notes due 2014 in an underwritten public offering. The offering is expected to close, subject to customary closing conditions, on September 14.
the company plans to use the net proceeds from the sale of the notes to repay the company's 5.75% notes due February 15, 2010.
J.P. Morgan, Deutsche Bank Securities Inc., Morgan Stanley and BofA Merrill Lynch are serving as joint book-running managers for the offering.
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