Manitowoc prices $300M senior secured second lien notes at 9.25% to refinance existing 9% notes due 2026

MANITOWOC CO INC

Priced $300M aggregate principal of senior secured second lien notes due 2031 at 9.250% interest, issue price 100%.
Net proceeds ~$295.5M used to redeem all outstanding 9.00% Senior Secured Second Lien Notes due 2026 and pay fees.
ABL credit facility commitments increased by $50M to $325M as part of the refinancing.
Closing expected September 19, 2024, subject to market conditions and ABL amendment.

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