Altra intends to repurchase some 9% notes, 11¼% notes with IPO proceeds

By Jennifer Chiou

New York, Sept. 29 - Altra Holdings, Inc. plans to use the proceeds of a $172.5 million initial public offering to repay a portion of its 9% senior secured notes due 2011 and/or its 11¼% senior notes due 2013, according to an S-1 filing with the Securities and Exchange Commission.

The Quincy, Mass.-based designer and marketer of mechanical power transmission and motion control products said that remaining proceeds will go towards general working capital or strategic acquisitions.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.