December 23, 2009 (FinancialWire) — Technitrol, Inc., (NYSE: TNL) said it has closed its offering of $50 million of 7% convertible senior notes, due 2014. The notes were sold to qualified institutional buyers who are also accredited investors in a private placement.

The company said it will use the net proceeds from the offering to repay a portion of its indebtedness under its existing revolving credit facility.

Philadelphia-based Technitrol is a producer of electronic components, electrical contacts and assemblies and other precision-engineered parts and materials for manufacturers in the wireless and wireline communications, military/aerospace, automotive and electrical equipment industries.

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