Columbus McKinnon calls 7 7/8% senior subordinated notes at 103.938

By Angela McDaniels

Tacoma, Wash., Jan. 23 – Columbus McKinnon Corp. will redeem its outstanding $150 million of 7 7/8% senior subordinated notes due Feb. 1, 2019, according to a company news release.

The redemption price is $1,039.38 per $1,000 principal amount of notes plus interest up to but excluding the redemption date, Feb. 23.

At a presentation in September, chief financial officer Greg Rustowicz said that with the “improvement in the interest-rate environment [and] the improvement of the credit metrics of the company overall, we could finance this note at a significantly lower interest rate.”

Columbus McKinnon makes hoists, cranes and other material handling products and is based in Amherst, N.Y.

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