Manitowoc issues $300M 9.250% notes due 2031, redeems 9.00% notes due 2026

MANITOWOC CO INC

Issued $300M aggregate principal of 9.250% Senior Secured Second Lien Notes due October 1, 2031.
Net proceeds used to redeem all outstanding 9.00% Senior Secured Second Lien Notes due April 2026.
ABL Credit Facility amended: up to $325M asset-based revolver, maturity extended to September 18, 2029.
New notes are senior secured second-lien, guaranteed by domestic subs, junior to ABL first-lien.
Interest payable semi-annually on April 1 and October 1, starting April 1, 2025.

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