Manitowoc seeks facility amendment to revise financial covenants

By Sara Rosenberg

New York, Sept. 29 - The Manitowoc Co. Inc. is looking to amend its senior credit facility to gain flexibility under financial covenants, according to a news release.

The amendment is conditioned on the company issuing senior unsecured notes.

Proceeds from the new notes will be used to repay some term loan debt.

The amount of the notes offering, which is planned to occur in October, is expected to be at least $500 million.

Manitowoc is a Manitowoc Wis.-based provider of lifting equipment and manufacturer of commercial foodservice equipment.

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