Applied Industrial Technologies, Black Hills and Mettler-Toledo announce note placements

By Lisa Kerner

Charlotte, N.C., July 2 – Applied Industrial Technologies, Inc. issued $120 million of 3.19% series C notes due 2022 to Prudential Investment Management, Inc.

Proceeds will be used to fund acquisitions and for general corporate purposes, according to an 8-K filing with the Securities and Exchange Commission.

Applied Industrial is an industrial distributor based in Cleveland.

Two subsidiaries of Black Hills Corp. agreed on Monday to privately place first mortgage bonds totaling $160 million on Oct. 1.

Black Hills Power, Inc. agreed to place $85 million of 4.43% first mortgage bonds, series AG, due 2044.

Under a separate agreement, subsidiary Cheyenne Light, Fuel and Power Co. will place $75 million of 4.53% first mortgage bonds, series 2014, due 2044.

Proceeds will be used primarily to finance construction of a natural gas generating station, according to an 8-K filing.

Black Hills is a Rapid City, S.D.-based energy company.

Mettler-Toledo International Inc. agreed on Friday to place senior notes totaling $250 million to accredited institutional investors, according to an 8-K filing.

On Sept. 19, the company will issue $125 million of 3.84% series 2014-A senior notes, tranche 1, due 2024.

Mettler-Toledo will issue $125 million of 4.24% series 2014-A senior notes, tranche 2, due 2025 on June 25, 2015.

Proceeds may be used to refinance debt and for other general corporate purposes.

Mettler-Toledo is a Columbus, Ohio-based supplier of precision instruments and services.

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