MANITOWOC, Wis.--(BUSINESS WIRE)--Oct. 4, 2012--
The Manitowoc Company, Inc. (NYSE: MTW) today announced that it had
priced a public offering of $300 million aggregate principal amount of
Senior Notes maturing in 2022 and bearing interest at a rate of 5.875%.
The offering is being made pursuant to a shelf registration statement
and is expected to close on October 19, 2012. Manitowoc plans to use the
net proceeds of the offering to redeem the entire $150 million aggregate
principal amount of its 7-1/8% Senior Notes due 2013 and to repay a
portion of the outstanding borrowings under its senior secured credit
facilities. J.P. Morgan Securities LLC, Deutsche Bank Securities Inc.
and Wells Fargo Securities, LLC are acting as joint book-running
managers for the offering.
The offering of Senior Notes is being made only by means of a prospectus
and prospectus supplement, a copy of which may be obtained by contacting
J.P. Morgan Securities LLC, Attention: High Yield Syndicate, 383 Madison
Avenue, 3rd Floor, New York, NY 10179, or by calling (800) 245-8812;
Deutsche Bank Securities Inc., Attention: Prospectus Group, 60 Wall
Street, New York, NY 10005, or by calling (800) 503-4611 or Wells Fargo
Securities, LLC, Attention: Client Support, 550 South Tryon Street, 7th
Floor, MAC D1086-070, Charlotte, NC 28202, or by calling (800) 326-5897.
An electronic copy of the prospectus and prospectus supplement is
available from the Securities and Exchange Commission’s website at www.sec.gov.
This press release is not an offer to sell these securities and is not
soliciting an offer to buy these securities in any jurisdiction in which
such offer, solicitation, or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
jurisdiction.
About The Manitowoc Company, Inc.
Founded in 1902, The Manitowoc Company, Inc. is a multi-industry,
capital goods manufacturer with over 115 manufacturing, distribution,
and service facilities in 25 countries. The company is recognized
globally as one of the premier innovators and providers of crawler
cranes, tower cranes, and mobile cranes for the heavy construction
industry, which are complemented by a slate of industry-leading product
support services. In addition, Manitowoc is one of the world’s leading
innovators and manufacturers of commercial foodservice equipment, which
includes 25 market-leading brands of hot- and cold-focused equipment. In
2011, Manitowoc’s revenues totaled $3.7 billion, with more than half of
these revenues generated outside of the United States.
Source: The Manitowoc Company, Inc.
The Manitowoc Company, Inc.
Carl J. Laurino
Senior Vice
President and Chief Financial Officer
920-652-1720