AP reported that Timken Co has sold USD 250 million of 6% senior unsecured notes due 2014. The offering is expected to close on September 14th 2009.
Proceeds will be used to repay the company's 5.75% notes, which are due on February 15th 2010.
JP Morgan, Deutsche Bank Securities Inc, Morgan Stanley and Bank of America Merrill Lynch are joint book running managers for the offering.
(Sourced from Associated Press)
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