Actuant Corporation (NYSE:ATU) today announced that it intends to offer
$250 million in aggregate principal amount of senior notes due in 2017
in a private placement, subject to market and other conditions.
The Company expects the offering will be completed in June 2007. The
issuance of the notes will be subject to customary closing conditions.
The Company will use the net proceeds from the offering to refinance a
portion of its senior credit facility and to pay certain transaction
costs and expenses.
The senior notes have not been registered under the Securities Act of
1933, amended, and may not be offered or sold within the United States
or to, or for the account or benefit of, U.S. persons except pursuant to
an exemption from, or in a transaction not subject to, the registration
requirements of the Securities Act. Accordingly, the notes are being
offered and sold only (a) to ?qualified
institutional buyers? (as defined in Rule 144A
under the Securities Act) and (b) outside the United States, to non-U.S.
persons in compliance with Regulation S under the Securities Act.
This press release shall not constitute an offer to sell or a
solicitation of an offer to purchase any of the securities and shall not
constitute an offer, solicitation or sale in any state or jurisdiction
in which such an offer, solicitation or sale would be unlawful.
About Actuant
Actuant, headquartered in Butler, Wisconsin, is a diversified industrial
company with operations in more than 30 countries. The Actuant
businesses are market leaders in highly engineered position and motion
control systems and branded hydraulic and electrical tools and supplies.
Since its creation through a spin-off in 2000, Actuant has grown its
sales from $482 million to over $1.3 billion and its market
capitalization from $113 million to over $1.3 billion. The Company
employs a workforce of more than 6,700 worldwide. Actuant Corporation
trades on the NYSE under the symbol ATU. For further information on
Actuant and its business units, visit the Company's website at www.actuant.com.
Safe Harbor
This news release contains forward-looking statements concerning Actuant's
proposed senior notes offering. The terms of, and Actuant's
ability to complete, this transaction will depend upon prevailing market
conditions and other factors. The forward-looking statements are subject
to these and other risks and uncertainties that could cause actual
results to differ materially from future results expressed or implied by
such forward-looking statements.
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