Toromont Industries Ltd.
TSX : TIH

Toromont Industries Ltd.

October 13, 2005 10:39 ET

Toromont Closes Debenture Issue

TORONTO, ONTARIO--(CCNMatthews - Oct. 13, 2005) - Toromont Industries Ltd. (TSX:TIH) has closed the previously announced rated private placement of senior unsecured debentures. The senior debentures have a maturity of October 13, 2015, are unsecured and bear a coupon rate of 4.92%. The debentures were marketed by RBC Dominion Securities Inc. (co-lead and sole bookrunner), Scotia Capital Inc. (co-lead), CIBC World Markets and TD Securities Inc.

Toromont Executive Vice President and Chief Financial Officer, Wayne S. Hill, commented, "in response to very strong demand, Toromont increased the placement to $125 million. The success of this issue is indicative of Toromont's excellent track record, strong following and access to longer-term debt financing at favourable interest rates. Proceeds are to be used for general corporate purposes and on closing were applied to reduce outstanding borrowings on existing bank facilities."

Toromont Industries Ltd. (TSX:TIH) operates through two business segments: The Equipment Group and the Compression Group. The Equipment Group includes one of the world's largest Caterpillar dealerships by revenue and geographic territory in addition to industry leading rental operations. The Compression Group is a North American leader specializing in the design, engineering, fabrication, and installation of compression systems for natural gas, fuel gas and carbon dioxide in addition to process systems and industrial and recreational refrigeration systems. Both groups offer comprehensive product support capabilities. Toromont employs approximately 4,000 people in more than 100 locations. This press release and more information about Toromont Industries can be found on the Web at www.toromont.com.

Contact Information

  • Toromont Industries Ltd.
    Wayne S. Hill
    Executive Vice President & Chief Financial Officer
    (416) 667-5776
    or
    Toromont Industries Ltd.
    Hugo T. Sorensen
    President & Chief Executive Officer
    (416) 667-5527