Columbus McKinnon talks $150 million eight-year notes with 8¼% area yield at a discount

By Paul A. Harris

Portland, Ore., Jan. 12 - Columbus McKinnon Corp. talked a $150 million offering of eight-year senior subordinated notes (B1/B+) with an 8¼% area yield on Wednesday, according to an informed source.

The note will be priced at a discount, the source added.

Books close at 10 a.m. ET on Thursday.

Credit Suisse, Bank of America Merrill Lynch and J.P. Morgan Securities LLC are the joint bookrunners for the Rule 144A with registration rights offering.

The notes come with four years of call protection.

Proceeds will be used to refinance the company's 8 7/8% senior subordinated notes due 2013.

The prospective issuer is an Amherst, N.Y.-based designer and manufacturer of material handling products.

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