Lincoln Electric Holdings, a manufacturer of welding and cutting products, announced its intention to offer $350 million of senior unsecured notes to eligible purchasers in a private placement. The notes will be offered and sold in four tranches.
Lincoln Electric, based in Cleveland, plants to use the proceeds from the private placement for general corporate purposes.
The Series A Notes will carry an annual interest rate of 3.15 percent and will mature Aug. 20, 2025. Series B Notes will have an interest rate of 3.35 percent and mature Aug. 20, 2030. Series C Notes, with annual interest rate of 3.61 percent, will mature April 1, 2035, and Series D, with an annual interest rate of 4.02 percent will mature in April 2045.
Lincoln Electric expects to benefit from diversified end market and geographic exposure, according to an analysis from Zacks.com. Continuous investment in the development of automation portfolio will also drive growth.
