Regal Beloit Issues $423M Senior Unsecured Notes in Private Placement

Regal Beloit Corporation RBC today announced it has issued $423 million in senior unsecured notes in a private placement, and anticipates issuing an additional $77 million in senior unsecured notes in the near term.   The notes, which will be issued in a total of seven tranches, have maturities from seven to twelve years and carry fixed interest rates between 4.09% to 5.09%.  The proceeds from the issuance of the notes will be available to finance the pending acquisition of the Electrical Products Company from A.O. Smith Corporation. Terms and conditions of the private placement will be described in the Company's filings with the Securities and Exchange Commission.