Manitowoc to redeem 10 3/8% notes

By Jennifer Chiou

New York, April 13 - The Manitowoc Co. announced the May 15 redemption of its $207.5 million of 10 3/8% senior subordinated notes due 2011.

Manitowoc said it will pay holders 105.188% of par plus accrued interest up to the redemption date.

The company added it will redeem all of the notes for about €195 million, including interest payments.

The Bank of New York is the trustee.

The Manitowoc, Wis.-based company provides lifting equipment for the construction industry.

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