Columbus McKinnon tenders for 8½% notes due 2008

By Jennifer Chiou

New York, Aug. 5 - Columbus McKinnon Corp. said it is tendering for any and all of its $142.4 million outstanding 8½% senior subordinated notes due 2008.

The company is also soliciting for consents to eliminate substantially all of the restrictive and reporting covenants, certain events of default and certain other provisions contained in the indenture governing the notes.

The offer expires at midnight ET on Sept. 1, unless extended.

Columbus McKinnon will pay $1,016.67 per $1,000 principal amount and those who tender their holding before the consent deadline - 5 p.m. ET on Aug. 15 - will receive the included consent payment of $10.00 per $1,000 principal amount of notes.

The company plans to fund its offer with proceeds from a private placement of senior subordinated notes and other funds.

The offer is conditioned upon the completion of a new senior subordinated notes offering, the receipt of consents from a majority of holders and the execution of a supplemental indenture.

D.F. King & Co., Inc. is the information agent (888 628-1041) or call Credit Suisse First Boston LLC (800 820-1653 or collect 212 325-7596) with questions.

Amherst, N.Y.-based Columbus McKinnon manufactures material handling systems, such as hoists and cranes.

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