Park-Ohio Industries, Inc., a subsidiary of Park-Ohio Holdings Corp., has announced its intention to offer $350 million in senior secured notes due in 2030. These notes will be senior obligations and are set to be guaranteed by the company's existing and future domestic subsidiaries. The notes will be secured by a first-priority lien on the company's and guarantors' U.S. equipment and a second-priority lien on other U.S. assets. In line with this offering, the company plans to amend its revolving credit facility to extend its maturity date. There is no assurance that the offering or the revolving credit facility amendment will be completed as planned.
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