25.07.2010

Linamar sells notes

Linamar, owner of Skyjack, has completed a private placement of $130 million of senior unsecured notes.

The notes carry a seven year term bearing and carry an interest rate of 5.31 percent per annum. The net proceeds from the sale of the Notes will be used for general corporate purposes.
Linamar's chief executive Linda Hasenfratz said: "we were very pleased with the terms of the notes and how smoothly this transaction took place. We were oversubscribed in the market, which we believe shows the strength of Linamar's balance sheet and reputation as a solid, reliable company with a good track record and great future growth prospects."