Park-Ohio Industries, Inc., a subsidiary of Park-Ohio Holdings Corp. $(PKOH)$, announced the pricing of its $350 million offering of senior secured notes due 2030. These notes, exempt from the registration requirements of the Securities Act of 1933, were priced at 99.500% of par and will bear an interest rate of 8.500% per annum. The notes will be senior obligations of the company and guaranteed by its existing and future domestic subsidiaries, secured by a first-priority lien on U.S. equipment and a second-priority lien on U.S. assets not constituting equipment. The offering is expected to close on July 31, 2025, pending customary closing conditions.
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