Hyster-Yale Materials Handling, Inc. announces intent to enter into $200 Mil Term Loan B Facility
posted by AJOT | May 05 2017 at 09:00 AM | Logistics
CLEVELAND - Hyster-Yale Materials Handling, Inc. (NYSE: HY) today announced that its direct, wholly owned subsidiary, Hyster-Yale Group, Inc., is seeking to enter into a new $200.0 million term loan B facility (the “Term Loan B”), subject to market conditions. The Company intends to use borrowings under the Term Loan B to repay borrowings under its secured, floating-rate credit facility, to fund any future acquisitions and strategic investments and for general corporate purposes.
The Company anticipates that it will enter into the Term Loan B, as well as a related amendment to its secured, floating-rate credit facility, within the next four to six weeks. However, there can be no assurance that the Company will be able to enter into the Term Loan B on terms acceptable to the Company.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities and will not constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The Company does not intend to register any securities under the Securities Act of 1933 or any states securities laws and no securities may be offered or sold in the United States absent registration or an applicable exemption from registration requirements.