By Lisa Kerner
Charlotte, N.C., July 2 – Applied Industrial Technologies, Inc. issued $120 million of 3.19% series C notes due July 1, 2022 to Prudential Investment Management, Inc.
Proceeds will be used to fund acquisitions and for general corporate purposes, according to an 8-K filing with the Securities and Exchange Commission.
Equal installments of principal are due on July 1, 2020, July 1 2021 and July 1, 2022.
The purchase was made under a Nov. 27, 1996 private shelf agreement.
Applied Industrial is an industrial distributor based in Cleveland.
| Issuer: | Applied Industrial Technologies, Inc.
|
| Issue: | Series C notes
|
| Amount: | $120 million
|
| Coupon: | 3.19%
|
| Maturity: | July 1, 2022
|
| Settlement date: | July 1
|
| Purchaser: | Prudential Investment Management, Inc.
|
| Distribution: | Private placement
|
© 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.
