- EnPro Industries (NYSE:NPO +0.3%) completed its previously announced offering of $150M of its 5.875% unsecured Senior Notes due 2022.
- Net proceeds from the offering will be utilised to repay outstanding borrowings under its senior secured revolving credit facility to increase availability to fund future capital requirements, including potential contributions to a trust to be established pursuant to a joint plan of reorganization filed in asbestos bankruptcy proceedings of certain subsidiaries, if such joint plan is approved and consummated, and for other general corporate purposes.
- Interest on the Senior Notes accrues at a rate of 5.875% per annum and is payable semi-annually in cash in arrears on March 15 and September 15 of each year, commencing September 15, 2017.
- Press Release