Ropes & Gray represented AMSTED Industries Incorporated in a $500 million issuance of 6.375% senior notes due 2033, as well as the refinancing of AMSTED’s $1.4 billion credit facility and the extension of its $225 million AR securitization facility. The company concurrently with the notes offering completed a tender offer for its outstanding $400 million 5.625% senior notes due 2027. Net proceeds from the offering together with cash on hand will be used to fund the concurrent tender offer and repay debt under Amsted’s credit facilities. The notes offering and tender offer both closed on March 6, 2025, the credit facility closed on February 6, 2025 and the AR securitization facility closed on November 21, 2024.
AMSTED Industries, a private company owned by an employee stock ownership plan, is a diversified manufacturer of highly engineered industrial components with leading market positions in four business segments: Railroad Products, Commercial Vehicle Products, Construction Products, and Automotive and Industrial Products.
The team included capital markets partner Christopher Capuzzi, finance partners Greg Bauer and Patricia Lynch, environmental partner Peter Alpert and IP transactions partner Jordan Altman.
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