Manitowoc Completes Senior Subordinated Notes Redemption

Thursday, August 02, 2007
The Manitowoc Company announced that it has completed the previously announced redemption of its 10.5% Senior Subordinated Notes due 2012. The call premium paid to note holders was 105.25% of the principal amount of the notes. The total cash paid was $129 million which included the call price, accrued and unpaid interest and other related costs at the time of redemption. The Bank of New York, trustee for the issue, redeemed the notes through its New York office. Manitowoc generated proceeds for the redemption of the notes from its multi-currency revolving credit facility, its accounts receivable securitization facility and cash on hand. As a result of the redemption, the related indenture dated August 8, 2002, by and among The Manitowoc Company, the guarantor subsidiaries thereunder and The Bank of New York, as trustee, terminated automatically as of August 1, 2007.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Danish Maritime Days Themes Announced

Four themes at this year’s Danish Maritime Days will highlight some of the most important challenges and opportunities which the global maritime industry is facing, organizers said.

CMA CGM Proceeds with NOL Takeover after China Okay

CMA CGM, the world's third-largest container shipping firm, is to go ahead with its planned acquisition of Singapore's Neptune Orient Lines (NOL) after receiving regulatory clearance from China,

Singapore Exchange in Talks to buy Baltic Exchange

Baltic Exchange privately owned by 380 shareholders. The Singapore Exchange (SGX) is in exclusive talks to buy London's Baltic Exchange, which has been at the

Finance

STX Shipbuilding Likely to Enter Court-lead Restructuring

South Korean shipbuilder STX Offshore & Shipbuilding Co Ltd will likely need to enter court-supervised receivership due to financial difficulties, the firm's lead

Statoil Says Sees European Gas Prices Bottoming Out

Norway's Statoil does not expect European gas prices to fall much further as rising demand from the power generation sector would offset an expected increase in liquefied natural gas (LNG) supply,

Baltic Index Down on Lower Demand for Larger Vessels

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Wednesday hurt by sluggish demand for large vessel sizes.

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1223 sec (8 req/sec)