Ingersoll Rand to repay some credit facility borrowings via new notes

By Marisa Wong

Los Angeles, Aug. 7 – Ingersoll Rand Inc. plans to repay a portion of the amounts outstanding under its senior secured credit facilities using proceeds from a two-part offering of fixed-rate senior notes, according to a 424B2 filing with the Securities and Exchange Commission.

As of June 30, the company and its subsidiaries had $2,733,800,000 of outstanding borrowings under the credit facilities (net of unamortized discounts), which mature on Feb. 28, 2027.

As of June 30, the applicable interest rate for borrowings was about 7%, and the weighted average interest rate was 6.59% for the six-month period ended June 30.

Based in Davidson, N.C., Ingersoll Rand produces mission-critical air, fluid, energy and medical technologies.

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