Enerpac Tool draws down $295 million on revolver for note redemption

By Wendy Van Sickle

Columbus, Ohio, June 15 – Enerpac Tool Group Corp. borrowed $295 million under its $400 million revolving credit facility on Monday, according to a news release.

Proceeds were used to fund the redemption of the company’s $287,559,000 of 5 5/8% senior notes due 2022 on June 15.

JPMorgan Chase Bank, NA is the administrative agent for the credit agreement.

The industrial tools and services company is based in Milwaukee.

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