Manitowoc Co., Inc. (MTW) announced the pricing of a public offering of $400 million aggregate principal amount of senior notes maturing in 2018 and bearing interest at a rate of 9.50%. The offering is being made pursuant to a shelf registration statement and is expected to close on February 8, 2010.
Manitowoc intends to use the net proceeds of the offering to make a partial repayment of amounts outstanding under its term loan facilities.
J.P. Morgan Securities Inc., Deutsche Bank Securities Inc., and Banc of America Securities LLC are acting as joint book-running managers for the offering.
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