Manitowoc to redeem 35% of 10½% notes with stock sale proceeds

By Caroline Salls

Pittsburgh, Nov. 29 - The Manitowoc Co. Inc. will redeem 35% of its 10½% senior subordinated notes due 2012 using proceeds from its sale of 2.65 million shares of common stock, according to a company news release.

The company will also use proceeds for general corporate purposes.

The Manitowoc Co. is a Manitowoc, Wis.-based provider of lifting equipment for the global construction industry.

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