Actuant sets price talk for $250 million 10-year notes at 6 7/8% area

By Paul A. Harris

St. Louis, June 5 - Actuant Corp. set price talk for its $250 million offering of 10-year senior notes (Ba2/BB-) at the 6 7/8% area on Tuesday, according to an informed source.

The Rule 144A with registration rights offering is expected to price Wednesday morning.

Banc of America Securities LLC has the books. Wachovia Securities is the joint lead manager. BMO Nesbitt Burns and RBC Capital Markets are co-managers.

The notes will come with five years of call protection.

Credit ratings remain to be determined.

The Glendale, Wis., industrial equipment manufacturer will use the proceeds to repay bank debt.

© 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.