Toromont Industries Ltd.
TSX : TIH

Toromont Industries Ltd.

October 03, 2005 15:13 ET

Toromont to Issue Debentures

TORONTO, ONTARIO--(CCNMatthews - Oct. 3, 2005) - Toromont Industries Ltd. (TSX:TIH) announced today that it is in the process of marketing a rated private placement of senior unsecured debentures due 2015.

Toromont expects to issue approximately $100 million of debentures. Proceeds from the issue will be used for general corporate purposes and on closing will be applied to reduce outstanding borrowings on existing bank facilities. The debentures are being marketed by RBC Dominion Securities Inc. (co-lead and sole bookrunner), Scotia Capital Inc. (co-lead), CIBC World Markets and TD Securities Inc. Closing is expected to occur next week.

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