Tennant extends $80 million private shelf agreement with Prudential

By Lisa Kerner

Charlotte, N.C., July 7 – Tennant Co. entered into a third amendment to its July 29, 2009, private shelf agreement with Prudential Investment Management, Inc. and its affiliates on June 30, according to an 8-K filing with the Securities and Exchange Commission.

The third amended agreement extends the issuance period for shelf notes under the agreement to June 30, 2018, from July 24, 2015.

As previously reported, Tennant agreed to issue up to $80 million of senior secured notes to Prudential under the shelf.

Notes issued under the shelf may have a maturity of up to 12 years, provided that the average life for each private shelf note issued is no more than 10 years after the original issuance date.

Tennant is a Minneapolis-based designer, manufacturer and marketer of cleaning solutions.

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