Timken Prices Public Offering of $400 Million Senior Unsecured Notes Due in 2028
The Timken Company (NYSE: TKR), a world leader in engineered bearings and power transmission products, today announced that it has priced a public offering of $400 million of 4.500% Senior Notes due 2028 (the "Notes") in an underwritten public offering. The offering is expected to close on or about September 6, 2018, subject to the satisfaction of customary closing conditions.
Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley & Co. LLC, Goldman Sachs & Co. LLC and KeyBanc Capital Markets Inc. are serving as joint book-running managers for the offering.
The Notes are being offered pursuant to an effective shelf registration statement that has previously been filed with the Securities and Exchange Commission (the "SEC"). The offering will be made solely by means of a prospectus supplement and accompanying prospectus filed with the SEC. Full details of the offering, including a description of the notes and certain risk factors related to the notes, are contained in the preliminary prospectus supplement. You may obtain copies of each of these documents without charge from the SEC at www.sec.gov. Alternatively, you may request copies of these documents by calling Merrill Lynch, Pierce, Fenner & Smith Incorporated toll free at 1-800-294-1322 or Morgan Stanley & Co. LLC toll free at 1-866-718-1649.
This release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor will there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale is not permitted.
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