Columbus McKinnon gets required consents in tender offer for 8½% notes due 2008

By Jennifer Chiou

New York, Aug. 5 - Columbus McKinnon Corp. said it received consents for about 82% of the notes in its tender offer for any and all of its $142.4 million outstanding 8½% senior subordinated notes due 2008.

As of 5 p.m. on Aug. 15, the company received the required consents to eliminate substantially all of the restrictive and reporting covenants, certain events of default and certain other provisions contained in the indenture governing the notes.

As already reported, the offer is conditioned upon the completion of a new $136 million senior subordinated notes offering, the receipt of consents from a majority of holders and the execution of a supplemental indenture.

Columbus McKinnon previously reported the offer expires at midnight ET on Sept. 1, unless extended, stating it will pay $1,016.67 per $1,000 principal amount, including a consent payment of $10.00 per $1,000 principal amount.

D.F. King & Co., Inc. is the information agent (888 628-1041) or call Credit Suisse First Boston LLC (800 820-1653 or collect 212 325-7596) with questions.

Amherst, N.Y.-based Columbus McKinnon manufactures material handling systems, such as hoists and cranes.

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