Enerpac Tool to draw down on revolver to fund note redemption

By Wendy Van Sickle

Columbus, Ohio, May 14 – Enerpac Tool Group Corp. plans to draw down on its $400 million revolving credit facility to fund the redemption of its $287,559,000 of outstanding 5 5/8% senior notes due 2022 on June 15, according to a news release.

Currently, the $400 million is undrawn. The credit facility presently carries an interest rate of Libor plus 137.5 basis points.

The industrial tools and services company is based in Milwaukee.

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