Enpro (NPO) said Tuesday it plans to offer $450 million in senior notes due 2033 to qualified institutional buyers and certain foreign investors.
Net proceeds will be used to redeem the company's $350 million in 5.75% senior notes due 2026 and repay part of its senior secured revolving credit facility, Enpro said.
The company issued a conditional notice to redeem the 2026 notes, with the redemption contingent on the successful sale of the new notes. If completed, the redemption will occur on June 12 at full face value plus accrued interest, according to the company.
Shares of Enpro were up 1.4% in recent trading.
Price: 184.56, Change: +2.57, Percent Change: +1.41
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