Manitowoc launches $300M senior secured note offering due 2031 to refinance existing 9% notes

MANITOWOC CO INC

Offering $300M aggregate principal of senior secured second lien notes due 2031.
Proceeds to redeem all $300M of outstanding 9.00% Senior Secured Second Lien Notes due 2026.
Concurrent amendment to ABL credit facility increases commitments by $50M to $325M.
As of June 30, 2024, pro forma available borrowings under amended ABL would have been ~$203.2M.
Offering subject to market conditions; no assurance of completion.

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