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Manitowoc starts roadshow Wednesday for $175 million 10-year notes
By Paul A. Harris
St. Louis, Mo., July 23 - The roadshow starts Wednesday for The Manitowoc Co.'s offering of $175 million senior subordinated notes due 2012 (B2/B+), according to a syndicate source who added that the deal is likely to price Aug. 1.
Deutsche Bank Securities Inc. and Credit Suisse First Boston are the bookrunners. JP Morgan, Lehman Brothers, Banc One Capital Markets and Fleet Securities are the co-managers.
The Rule 144A notes are non-callable for five years.
The proceeds will be used to refinance outstanding indebtedness of Grove Investors, Inc. and its subsidiaries.
The Manitowoc, Wis.-based company produces lattice-boom cranes and tower cranes for the global construction industry.
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