CANTON, Ohio — The Timken Co. has announced a public offering of $250 million of 6 percent senior unsecured notes due 2014 in an underwritten public offering. The offering is expected to close, subject to customary closing conditions, on Sept. 14, 2009.
Net proceeds from the sale of the notes will be used for repayment of the company’s 5.75 percent notes due Feb. 15, 2010.
J.P. Morgan, Deutsche Bank Securities Inc., Morgan Stanley and BofA Merrill Lynch are serving as joint book-running managers for the offering.
