Black & Decker bond sale proceeds to pay down short-term debt

04/2/2009 | Sun (Baltimore), The

Black & Decker Corp. said the company plans to replace its short-term debt with long-term debt. The power-tool manufacturer received a lower debt rating from Moody's that has made securing commercial paper more difficult. Black & Decker netted about $343 million through a bond sale this week and will use $283 million of the proceeds to pay down short-term debt.

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Sun (Baltimore), The

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