Waukesha-based Generac Holdings Inc., a designer and manufacturer of generators and other engine-powered products, announced today it is adjusting its previously disclosed recapitalization plan in light of recent financing market conditions. The company has determined that it will decrease the total size of its previously announced $1.2 billion financing and will not proceed with its private offering of unsecured notes. The company instead expects to increase the amount of new senior secured debt to approximately $900 million. If incurred, the company will use the proceeds of the new debt financing together with cash on its balance sheet to refinance its existing senior secured credit facility and to pay a special cash dividend of up to $6 per share on its common stock. The company still expects to replace its current $150 million unfunded revolving credit facility with a similar sized asset-based revolving line.