The Manitowoc Company Inc. Closes Senior Secured Credit Facilities
January 06, 2014 at 02:00 pm
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The Manitowoc Company, Inc. announced that it has closed its new senior secured credit facilities in the aggregate amount of $1.05 billion. The refinancing includes a revolving facility of $500 million with a term of five years, a Term Loan A facility of $350 million with a term of five years, and a Term Loan B facility of $200 million with a term of seven years. This new credit facility extends the maturity dates of the company's revolving credit facility and term loans from 2016 and 2017 to 2018 and 2020, respectively.
The Manitowoc Company, Inc. is a provider of engineered lifting solutions. The Company, through its wholly owned subsidiaries, designs, manufactures, markets, distributes, and supports comprehensive product lines of mobile hydraulic cranes, lattice-boom crawler cranes, boom trucks, and tower cranes under the Aspen Equipment, Grove, Manitowoc, MGX Equipment Services, National Crane, Potain, and Shuttlelift brand names. Its segments include Americas segment, Europe and Africa (EURAF) segment and Middle East and Asia Pacific (MEAP) segment. The Americas segment includes the North America and South America continents. The EURAF segment includes the Europe and Africa continents, excluding the Middle East region. The MEAP segment includes the Asia and Australia continents and the Middle East region. Its crane products are used in a variety of applications throughout the world, including energy production/distribution and utility, petrochemical and industrial, and infrastructure.
THE MANITOWOC COMPANY, INC. 
