Timken Sells $250M In Senior Unsecured Notes

Law360, New York (September 10, 2009, 6:38 PM EDT) -- Specialty steel and ball bearing maker Timken Co. has sold $250 million in senior unsecured notes in an underwritten public offering, the Ohio-based company said Thursday.

A representative for Timken, which reported sales of $5.7 billion in 2008, confirmed the sale.

The company said in a statement that the offering for the senior notes — which have a maturity date of 2014 and bear interest of 6 percent yearly — was expected to officially close Sept. 14.

The net proceeds from the sale of the securities...
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