Ladish Co., Inc., Cudahy, WI, has announced that it has secured $40 million of long-term financing through the private placement of senior notes with a number of institutional investors. The senior notes bear interest at a rate of 6.14% per annum and have a maturity date of May 16, 2016. U.S. Bank and SPP Capital Partners, LLC acted as advisors to the company on the private placement.
"The placement of $40 million of ten-year notes at a 6.14% interest rate provides us with attractively priced, long-term support to improve and grow our business," says Wayne E. Larsen, Ladish's CFO. "These notes combined with our revolving line of credit from a syndicate of lenders led by U.S. Bank allow us the flexibility to continue creating value for our shareholders through internal expansion and acquisitions."
Ladish Co., Inc. is a leading producer of highly engineered, technically advanced metal components for the jet engine, aerospace and general industrial markets. The company has forging operations in Wisconsin and Poland, plus casting operations in Oregon and machining operations in Wisconsin and Connecticut.