The Manitowoc Company Proposes Offering Of $300M Of Senior Secured Second Lien Notes Due 2031
Portfolio Pulse from Benzinga Newsdesk
The Manitowoc Company, Inc. (NYSE:MTW) is proposing a $300 million offering of senior secured second lien notes due 2031. The proceeds will be used to redeem existing notes and for general corporate purposes. The offering is contingent on amending its credit facility.
September 03, 2024 | 12:12 pm
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Manitowoc is proposing a $300M offering of senior secured notes to refinance existing debt and for general purposes. The success of this offering depends on amending its credit facility.
The offering aims to refinance existing debt, which could improve financial stability if successful. However, the offering is contingent on amending the credit facility, introducing uncertainty. The market's reaction will depend on the perceived likelihood of successful completion.
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