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Snap-on to sell $300 million 10-year notes via two bookrunners
By Devika Patel
Knoxville, Tenn., Feb. 15 – Snap-on Inc. plans to price a $300 million offering of 10-year fixed-rate notes, according to a 424B5 filing with the Securities and Exchange Commission and disclosures by two ratings agencies.
The notes (/A-/A) will have a make-whole call and then a par call.
Citigroup Global Markets Inc. and J.P. Morgan Securities LLC are the bookrunners.
Proceeds will be used to repay a portion of the company’s outstanding commercial paper and for general corporate purposes.
The tool and equipment manufacturer is based in Kenosha, Wis.
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