By Lisa Kerner
Charlotte, N.C., May 22 - Finning International Inc. completed a private placement of £70 million 3.4% senior notes, series F, due 2023.
Proceeds will be used to fund the repayment of the company's current £70 million 5.625% eurobond due May 30, 2013.
The notes will rank pari passu with Finning's existing senior unsecured obligations, according to a company news release.
Finning is a Vancouver, B.C.-based dealer of heavy equipment.
| Issuer: | Finning International Inc.
|
| Issue: | Senior notes
|
| Amount: | £70 million
|
| Maturity: | May 22, 2023
|
| Coupon: | 3.4%
|
| Settlement date: | May 22
|
| Distribution: | Private placement
|
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