Actuant Corporation : Actuant Announces Closing of Senior Notes Offering
04/16/2012| 05:45pm US/Eastern
Actuant Corporation (NYSE: ATU) today announced the closing of its
private placement of $300 million aggregate principal amount of 5.625%
senior notes due 2022 at an issue price of 100%.
The Company will use the net proceeds from the offering to fund the
tender offer and consent solicitation for, or the redemption by the
Company of, as applicable, its existing 6.875% senior notes due 2017 of
which $250 million aggregate principal amount is outstanding. The
remaining net proceeds will be used for general corporate purposes.
About Actuant Corporation
Actuant Corporation is a diversified industrial company with operations
in more than 30 countries. The Actuant businesses are leaders in a broad
array of niche markets including branded hydraulic and electrical tools
and supplies; specialized products and services for energy markets and
highly engineered position and motion control systems. The Company was
founded in 1910 and is headquartered in Menomonee Falls, Wisconsin.
Actuant trades on the NYSE under the symbol ATU. For further information
on Actuant and its businesses, visit the Company's website at www.actuant.com.
Certain of the above comments represent forward-looking statements made
pursuant to the provisions of the Private Securities Litigation Reform
Act of 1995. Management cautions that these statements are based on
current estimates of future performance and are highly dependent upon a
variety of factors, which could cause actual results to differ from
these estimates. Actuant's results are also subject to general economic
conditions, variation in demand from customers, the impact of
geopolitical activity on the economy, continued market acceptance of the
Company's new product introductions, the successful integration of
acquisitions, restructuring, operating margin risk due to competitive
pricing and operating efficiencies, supply chain risk, material and
labor cost increases, foreign currency fluctuations and interest rate
risk. See the Company's Form 10-K filed with the Securities and Exchange
Commission for further information regarding risk factors. Actuant
disclaims any obligation to publicly update or revise any
forward-looking statements as a result of new information, future events
or any other reason.
Karen Bauer, 262-293-1562
Investor Relations Leader
© Business Wire 2012