Parker-Hannifin pays down final £600 million under bridge facility

By Wendy Van Sickle

Columbus, Ohio, July 20 – Parker-Hannifin Corp. fully repaid the remaining £600 million under its bridge credit facility and terminated the facility on Wednesday, according to a company update.

The final repayment was a result of cash raised, such funding being backstopped by debt facilities otherwise available to the company.

The bridge facility was originally entered in August 2021 at a size of £5.1 billion in anticipation of the company’s acquisition of all outstanding capital stock of Meggitt plc. Citibank, NA and Citicorp North America, Inc. were the original lenders.

Parker-Hannifin is a Cleveland-based manufacturer of motion and control technologies.

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