Generac Announces Proposed Offering of $425 Million of Senior Notes due 2020
Generac Holdings Inc. (NYSE: GNRC) today announced that its indirect wholly owned subsidiary, Generac Power Systems, Inc., is proposing to offer and sell, subject to market and other conditions, up to $425 million in aggregate principal amount of its senior notes due 2020. The notes will be offered only to qualified institutional buyers in accordance with Rule 144A and to non-U.S. Persons under Regulation S under the Securities Act of 1933, as amended (the “Securities Act”).
The purpose of the proposed offering is to, among other things, fund a special cash dividend on the Company's outstanding common stock, to refinance the Company's existing indebtedness and to pay related fees and expenses.
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