Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers T > Headlines for Tenders 2011 > News item |
Columbus McKinnon tenders for any and all 8 7/8% notes due 2013
By Jennifer Chiou
New York, Jan. 10 - Columbus McKinnon Corp. announced the start of a cash tender offer and consent solicitation for any and all of its $124,855,000 of 8 7/8% senior subordinated notes due 2013.
The company is seeking consent to eliminate substantially all of the restrictive and reporting covenants, some events of default and other provisions contained in the indenture.
The offer is set to end at midnight ET on Feb. 7.
Those who tender prior to the 5 p.m. ET Jan. 24 consent deadline will receive a consent payment of $30 per $1,000 principal amount of notes.
Including the consent payment, the company will pay $1,026 per $1,000 principal amount plus accrued interest.
The early settlement date is anticipated for Jan. 25.
The notes were issued on Sept. 2, 2005.
Columbus McKinnon said it intends to fund the offer with proceeds from a private placement of senior subordinated notes together with other available funds.
The information agent and depositary is D.F. King & Co., Inc. (call collect 212 269-5550 or 888 628-1041). Credit Suisse Securities (USA) LLC is the dealer manager (800 820-1653 or 212 538-2147).
Columbus McKinnon is an Amherst, N.Y.-based designer and manufacturer of material handling products.
© 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.