NMHG redeems all 10% notes

By Jennifer Chiou

New York, May 16 - Nacco Industries, Inc. said that its wholly owned subsidiary, NMHG Holding Co., completed the redemption of all $250 million of its 10% senior notes due 2009.

NMHG said it paid $1,050 per $1,000 principal amount of notes, which includes the redemption premium of 5%, plus accrued interest up to but not including the May 15 redemption date.

The company added that it used the proceeds under a new term loan facility and available cash to fund the redemption.

The Cleveland-based operating company's principal businesses are lift trucks, housewares and mining.

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