manufacturing

Nortek to offer $235M note sale

COURTESY NORTEK
NORTEK INC. will offer $235 million in aggregate principal amount of its 8.5 percent senior notes, due 2021.
Posted 10/15/12

PROVIDENCE – Residential and commercial ventilation maker Nortek Inc. intends to offer $235 million in aggregate principal amount of its 8.5 percent senior notes, the company announced Monday.

According to a company release, Nortek intends to use all of the proceeds of the senior notes, due 2021, to repay an equal amount of debt outstanding under its term loan facility.

The company expects to use cash on hand to pay related fees and expenses.

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