Maxim Crane to repay asset-backed loan debt with notes proceeds

By Sara Rosenberg and Paul Deckelman

New York, March 24 - Maxim Crane Works plans on repaying asset-backed loan borrowings using proceeds from a $250 million secured notes offering, according to a market source.

Remaining proceeds will be used to fund a dividend.

Maxim Crane is a Bridgeville, Pa.-based renter and seller of lift equipment, including hydraulic truck cranes, rough terrain cranes, crawler cranes, tower cranes, conventional truck cranes and boom trucks.

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