The Manitowoc Company Announces $150M Offering of Senior Notes
The Manitowoc Company (NYSE: MTW) today announced that it had commenced a public offering of $250 million aggregate principal amount of its senior notes due 2022, subject to market and other conditions.
Manitowoc plans to use the net proceeds of the offering to redeem the entire $150 million aggregate principal amount of its 7 1/8% senior notes due 2013 and to repay a portion of the outstanding borrowings under its senior secured credit facilities.
J.P. Morgan Securities LLC, Deutsche Bank Securities Inc. and Wells Fargo Securities, LLC are the joint book-running managers for the offering.
The offering is being made only by means of a prospectus supplement and accompanying prospectus, which are part of a shelf registration statement Manitowoc filed with the Securities and Exchange Commission, copies of which may be obtained by contacting J.P. Morgan Securities LLC, Attention: High Yield Syndicate, 383 Madison Avenue, 3rd Floor, New York, NY 10179, or by calling (800) 245-8812, Deutsche Bank Securities Inc., Attention: Prospectus Group, 60 Wall Street, New York, NY 10005, or by calling (800) 503-4611 or Wells Fargo Securities, LLC, Attention: Client Support, 550 South Tryon Street, 7th Floor, MAC D1086-070, Charlotte, NC 28202, or by calling (800) 326-5897. An electronic copy of the prospectus and prospectus supplement is available from the Securities and Exchange Commission's website at www.sec.gov.
This press release is not an offer to sell these securities and is not soliciting an offer to buy these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
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