The Manitowoc Company Prices $400 Million Senior Notes Offering
February 04 2010 - 8:48AM
PR Newswire (US)
MANITOWOC, Wis., Feb. 4 /PRNewswire-FirstCall/ -- The Manitowoc
Company, Inc. (NYSE:MTW) today announced that it had priced 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
plans 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. The offering of Senior Notes is being
made only by means of a prospectus and prospectus supplement, a
copy of which may be obtained by contacting J.P. Morgan Securities
Inc. at 270 Park Avenue, 8th Floor, New York, NY 10017, Attention:
Syndicate Desk or by calling (800) 245-8812. An electronic copy of
the prospectus and prospectus supplement is available from the
Securities and Exchange Commission's website at
http://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.
About The Manitowoc Company, Inc. The Manitowoc Company, Inc. is a
multi-industry, capital goods manufacturer with more than 100
manufacturing and service facilities in 27 countries. It is
recognized as one of the world's largest providers of lifting
equipment for the global construction industry, including
lattice-boom cranes, tower cranes, mobile telescopic cranes, and
boom trucks. Manitowoc also is one of the world's leading
innovators and manufacturers of commercial foodservice equipment
serving the ice, beverage, refrigeration, food prep, and cooking
needs of restaurants, convenience stores, hotels, healthcare, and
institutional applications. DATASOURCE: The Manitowoc Company, Inc.
CONTACT: Carl J. Laurino, Senior Vice President & Chief
Financial Officer of The Manitowoc Company, Inc., +1-920-652-1720
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