Columbus McKinnon Announces Completion of Senior Secured Notes Offering

Core Viewpoint - Columbus McKinnon Corporation has successfully completed the offering of $900 million in senior secured notes to finance the acquisition of Kito Crosby Limited, which includes repaying Kito Crosby's existing debt and refinancing some of Columbus McKinnon's own debt [1][2]. Group 1: Offering Details - The company issued $900 million in aggregate principal amount of 7.125% senior secured notes due 2033 [1]. - The offering of the notes is not contingent upon the completion of the acquisition of Kito Crosby [3]. - The notes will be subject to mandatory redemption if the acquisition does not close by August 10, 2026, or if the company determines that the acquisition will not occur by that date [3]. Group 2: Use of Proceeds - The net proceeds from the notes will be used to finance the acquisition, repay Kito Crosby's existing indebtedness, refinance certain existing debts of Columbus McKinnon, and cover related fees and expenses [2]. Group 3: Security and Guarantees - Initially, the notes are unsecured and not guaranteed by any subsidiary of the company; however, post-acquisition, they will be secured by a first priority interest in substantially all assets of the company and its U.S. subsidiaries [4]. - The notes will be unconditionally guaranteed on a senior secured basis by the company's U.S. subsidiaries following the acquisition [4]. Group 4: Regulatory Information - The notes and related guarantees have not been registered under the Securities Act of 1933 and are sold only to qualified institutional buyers and accredited investors [5].