Actuant begins excess proceeds offer for $165 million of 5 5/8% notes

By Susanna Moon

Chicago, June 19 – Actuant Corp. began an excess proceeds offer for up to $165 million of its 5 5/8% senior secured notes due 2022, according to an 8-K filing with the Securities and Exchange Commission.

The purchase price will be par plus accrued interest to but excluding the purchase date.

The excess proceeds offer will end at 5 p.m. ET on July 20.

If the offer is oversubscribed, the company will purchase the notes on a pro rata basis with notes in denominations of $2,000 principal amount or integral multiples of $1,000 after that.

Actuant is a Menomonee Falls, Wis.-based diversified industrial company that manufactures branded hydraulic tools, specialized products and services for energy markets and highly engineered position- and motion-control systems.

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