IDEX Corporation Announces Pricing of Public Offering of Senior Notes
IDEX CORPORATION (NYSE: IEX) today announced the pricing of its public offering of $350 million principal amount of 4.2% Senior Notes due 2021, with an effective interest rate of 5.4% as a result of the forward starting swap entered into July 2011. These Senior Notes were priced under an effective shelf registration statement filed with the Securities and Exchange Commission.
IDEX intends to use the net proceeds of this offering to repay outstanding indebtedness under its $700 million domestic, multi-currency bank revolving credit facility and for general corporate purposes, which may include strategic acquisitions that complement its business model.
J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Wells Fargo Securities, LLC are acting as joint book-running managers for the offering.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.