Crane Co. Announces Closing of Debt Offering.STAMFORD, Conn. -- Crane Co. (NYSE NYSE See: New York Stock Exchange : CR), a diversified manufacturer of highly engineered industrial products, today announced the successful completion of its $200 Million Notes offering. The Notes were issued at a public offering price of 99.494% of par and will bear interest at a coupon rate Coupon rate In bonds, notes, or other fixed income securities, the stated percentage rate of interest, usually paid twice a year. of 6.55% per annum Per annum Yearly. , payable semi-annually on each May 15 and November 15, commencing May 15, 2007, until maturity on November 15, 2036. The offering was made pursuant to the Company's shelf registration previously filed with and declared effective by the Securities and Exchange Commission. The net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). of the offering will be used to repay indebtedness outstanding. For additional information and a copy of offering materials related to the Company's debt offering filed with the SEC please go to the Company's website at http://www.craneco.com/investors/edgar.cfm. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation, or sale would be unlawful prior to the registration or qualification under the securities laws of any such state. Crane Co. is a diversified manufacturer of highly engineered industrial products. Founded in 1855, Crane provides products and solutions to customers in the aerospace, electronics, hydrocarbon processing, petrochemical, chemical, power generation, automated merchandising, transportation and other markets. The Company has five business segments: Aerospace & Electronics, Fluid Handling, Engineered Materials, Merchandising Systems, and Controls. Crane has approximately 11,800 employees in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , South America, Europe, Asia and Australia. Crane Co. is traded on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. (NYSE:CR). For more information, visit www.craneco.com. |
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