Modine Manufacturing Completes $75M Private Placement of Senior Notes

Modine Manufacturing Company entered into a Note Purchase Agreement for the private placement of $75 million in senior notes. The issuance is split into Series A (due 2017) and Series B (due 2018), both carrying a 5.68% interest rate. Proceeds are for general corporate purposes, including debt repayment.

“On December 7, 2006, Modine Manufacturing Company (“Modine”) entered into a Note Purchase Agreement among The Prudential Insurance Company of America, Gibralter Life Insurance Co., Ltd., Teachers Insurance and Annuity Association of America, Country Life Insurance Company and Hare & Co. for the issuance and sale by Modine in a private placement of Series A 5.68% Senior Notes due December 7, 2017 and The Prudential Life Insurance Company, Ltd., Hare & Co., UMBTRU&CO, Time Insurance Co., American Memorial Life Insurance Company, Prudential Retirement Insurance and Annuity Company, American Bankers Insurance Company of Florida, Inc., Union Security Insurance Company and American Security Insurance Company for the issuance and sale by Modine in a private placement of Series B 5.68% Senior Notes due December 7, 2018 (collectively, the “Notes”) in an aggregate principal amount of $75,000,000 (the “Note Purchase Agreement”).”

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