Donaldson sells $125 million of 3.18% notes; Midway Gold secures $10.5 million term loan

By Lisa Kerner

Charlotte, N.C., April 21 – Donaldson Co., Inc. announced the sale of $125 million of 3.18% senior notes, series 2015-B, due June 17, 2030.

Proceeds will be used to refinance existing debt, according to an 8-K filed with the Securities and Exchange Commission.

Purchasers include Northwestern Mutual Life Insurance Co., Metropolitan Life Insurance Co., Erie Family Life Insurance Co., Mutual of Omaha Insurance Co. and Modern Woodmen of America.

The sale supplements Donaldson’s March 27, 2014, note purchase agreement for the sale of $25 million of 2.93% notes, series 2015-A, due 2015.

Donaldson is a Minneapolis-based manufacturer of filtration systems and replacement parts.

Midway Gold Corp. subsidiary MDW Pan LLP secured a $10.5 million 13˝% subordinated secured non-revolving term credit facility on Friday.

The facility has a maturity date of Sept. 30, 2017.

MDW entered into a subordinated credit agreement with MDW, Hale Capital Partners, LP, HCP-MID, LLC and INV-MID, LLC, according to an 8-K filed with the SEC.

Proceeds may be used for project costs as defined in the agreement or to make distributions and dividends.

Midway, based in Vancouver, B.C., is a development-stage company that acquires, explores and develops gold and silver mineral properties in North America.

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