Meritor, Inc. (NYSE: MTOR) today announced the pricing of its senior unsecured notes in an aggregate principal amount of $275 million in an underwritten registered public offering (the "Notes"). The $275 million of Notes will mature on June 15, 2021 and will bear interest at an annual rate of 6-3/4%. The offering is expected to close on May 31, 2013, subject to customary closing conditions.
Meritor designs, develops, manufactures, markets, distributes, sells, services and supports a range of products for use in the transportation and industrial sectors. Co.'s segments are: Commercial Truck and Industrial, which supplies drivetrain systems and components, including axles, drivelines and braking and suspension systems; and Aftermarket and Trailer, which supplies axles, brakes, drivelines, suspension parts and other replacement and remanufactured parts, including transmissions, as well as undercarriage products and systems. Co. serves commercial truck, trailer, off-highway, military, bus and coach and other industrial original equipment manufacturers and certain aftermarkets.
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