Manitowoc Prices $300M Private Offering Of 9.25% Senior Secured Notes Due 2031, Plans To Use Proceeds To Redeem Existing 9.00% Notes Due 2026 And Increase Credit Facility
Portfolio Pulse from Benzinga Newsdesk
Manitowoc has announced a $300 million private offering of 9.25% senior secured notes due in 2031. The proceeds will be used to redeem existing 9.00% notes due in 2026 and to increase the company's credit facility.
September 05, 2024 | 8:03 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Manitowoc's $300M private offering of 9.25% senior secured notes aims to redeem 9.00% notes due 2026 and increase its credit facility, potentially improving its financial flexibility.
The offering allows Manitowoc to manage its debt by redeeming higher-interest notes and increasing its credit facility, which could improve financial stability and investor confidence.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100