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Regal Rexnord ( NYSE: RRX ) has proposed a private placement of senior notes.
Terms of the offering are yet to be determined.
The company intends to use the net proceeds from the offering, together with term loan borrowings under its senior credit facilities and cash on hand, to fund the Altra Industrial Motion merger.
On October 26, 2022, Regal Rexnord ( RRX ) entered into a definitive merger agreement to acquire all of the issued and outstanding shares of common stock of Altra Industrial Motion.