IDEX Closes $200 Million Private Placement Of Senior Notes

IDEX CORPORATION IEX revealed Tuesday it completed a note purchase agreement for the private placement of $200 million of senior notes to institutional investors. That comprised of $100 million in aggregate principal amount of 3.20 percent Series A Senior Notes due 2023 (the "Series A Notes") and $100 million in aggregate principal amount of 3.37 percent Series B Senior Notes due 2025.

IDEX said it plans to use the net proceeds from the offering of the Notes to reduce outstanding borrowings under its revolving credit facility and for other general corporate purposes.

The stock traded 0.67 percent down on Tuesday.