Rexnord Corporation Announces Pricing of $500 Million of 4.875% Senior Notes due 2025
Rexnord Corporation (RXN)
Last rexnord corporation earnings: 1/28 04:20 pm
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US:NYSE Investor Relations:
phx.corporate-ir.net/phoenix.zhtml?c=202367&p=irol-irhome
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Source: Business Wire
MILWAUKEE--(BUSINESS WIRE)-- Rexnord Corporation (the “Company”) (NYSE: RXN) today announced the pricing of its offering of $500 million aggregate principal amount of 4.875% senior notes (the “notes”). The notes will be issued by the Company’s wholly-owned, indirect subsidiaries RBS Global, Inc. and Rexnord LLC (the “issuers”) and guaranteed by the Company and the issuers’ domestic subsidiaries (subject to certain exceptions). The notes will pay interest semi-annually at a rate of 4.875% per annum, on each June 15 and December 15, commencing on June 15, 2018, and will mature on December 15, 2025. The closing, which is subject to customary conditions, is expected to occur on December 7, 2017. The Company intends to use the net proceeds of the offering, together with available cash, to reduce outstanding indebtedness through a refinancing and amendment to certain terms of its credit agreement. The
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