RTTNews | Sep 22, 2021 11:16AM EDT

11:15 Wednesday, September 22, 2021 (RTTNews.com) - Shares of bearing manufacturing company RBC Bearings Inc.(ROLL) are up 5 percent on Wednesday's trading on news of its wholly-owned subsidiary Roller Bearing Company of America, Inc. offering $500 million in aggregate principal amount of senior notes due 2029 in a private offering.

The company said that notes are being offered in connection with RBC Bearings' financing of its earlier announced pending acquisition of the Dodge Mechanical Power Transmission Business of ABB Asea Brown Boveri Ltd. RBC Bearings plans to use the net proceeds to fund a portion of the cash purchase price for the pending acquisition, to pay acquisition-related fees and expenses, and for other general corporate purposes.

Currently at $200.78, the stock has traded between $113.40 and $250.52 during the past 52 weeks.

Read the original article on RTTNews ( https://www.rttnews.com/3227521/rbc-bearings-rises-5-co-s-unit-sets-500-mln-senior-notes-offering.aspx)

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