Cleaning & Restoration Breaking News

Mohawk Industries agrees to $700 million sale of senior notes

April 1, 2002
/ Print / Reprints /
/ Text Size+
Mohawk Industries, Inc. agreed to sell $300 million of its 6.50 percent senior notes due 2007 and $400 million of its 7.20 percent senior notes due 2012.

CALHOUN, Ga. --Mohawk Industries, Inc. (NYSE:MHK) announced that it has agreed to sell $300 million of its 6.50 percent senior notes due 2007 and $400 million of its 7.20 percent senior notes due 2012 through institutional private placements.

The size of the deal was increased to $700 million from an originally planned $600 million.

The leading producer of woven and tufted broadloom carpet and rugs for residential and commercial applications intends to use the net proceeds from the private placements to repay all outstanding indebtedness, approximately $600 million, under Mohawk's bridge credit facility. The Georgia-based carpet maker also will pay off approximately $91 million of outstanding indebtedness under Mohawk's revolving credit facility. The consummation of the sale of the notes is subject to customary conditions.

The notes have not been registered under the Securities Act of 1933, as amended, or any state securities laws. Unless so registered, the notes may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act and applicable state securities laws, according to a company press release.

Did you enjoy this article? Click here to subscribe to i Cleaning Specialist Magazine.

You must login or register in order to post a comment.



Image Galleries

The 2014 Experience Conference and Exhibition

A look in photos at the 2014 Experience Conference and Exhibition, which was held from April 24-26 at the Embassy Suites Convention Center and Spa in Frisco, Texas.

1/27/15 2:00 pm EST

Grow Your Business and Improve Operations with New Payment Technology

Attend this free webinar to learn how new developments in payment technology can help you close more jobs, increase upselling opportunities and improve operations.


While winter is considered the "slow season" for carpet cleaners, it can also be a season of great opportunity. In this episode of The Hitman Advertising Show, John Braun offers advice for keeping revenue consistent during the cold weather months so you're thriving - and not just surviving - the winter.
More Podcasts

ICS Cleaning Specialist Magazine


2014 Nov/Dec

The Nov/Dec ICS features content on how to get better meter readings, a roundtable on truckmount development, neighborhood marketing and more. Also included is the annual Buyer’s Guide and Directory.

Table Of Contents Subscribe

Janitorial Work

In addition to residential and commercial carpet cleaning, do you do any janitorial work on the side?
View Results Poll Archive


The Carpet Cleaner's Book of Unlimited Success! (ebook)

Don’t worry about the recession or about your competition.  Now you can be the owner of over 400 ways for carpet cleaning professionals to make more money and get more jobs!

More Products


Director_Buyer.jpgThe premier resource and reference guide for the cleaning and restoration industries.

Click here to view


facebook_40.png twitter_40px.png youtube_40px.png


Truckmount.jpgEquipment listings and specifications from the leading industry manufacturers.

Click here to view