Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers E > Headlines for EnPro Industries Inc. > News item |
EnPro Industries announces $150 million tack-on to 5 7/8% notes
By Paul A. Harris
Portland, Ore., March 20 – EnPro Industries, Inc. announced in a Monday press release that it plans to privately offer a $150 million tack-on to its 5 7/8% senior notes due Sept. 15, 2022.
The Charlotte, N.C.-based manufacturer of engineered products plans to use the proceeds to repay debt under its senior secured revolving credit facility.
The company seeks to increase availability under the revolver in order to fund future capital requirements, including potential contributions to a trust to be established as part of a joint plan of reorganization filed in asbestos bankruptcy proceedings of certain subsidiaries.
Remaining proceeds will be used for general corporate purposes.
The original $300 million issue priced at 99.215 to yield 6% in September 2014.
The add-on notes will become fungible with the original notes.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.