By Lisa Kerner
Charlotte, N.C., June 14 – Idex Corp. privately placed $200 million of senior notes with institutional investors, according to a news release.
The notes will be issued as:
• $100 million of 3.20% series A senior notes due 2023; and
• $100 million of 3.37% series B senior notes due 2025.
Proceeds will be used to reduce outstanding borrowings under the company’s revolving credit facility and for other general corporate purposes.
The notes have not been registered under the Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.
The Lake Forest, Ill.-based applied solutions company specializes in fluid and metering technologies; health and science technologies; and fire, safety and other diversified products.
| Issuer: | Idex Corp.
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| Issue: | Senior notes
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| Amount: | $200 million
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| Distribution: | Private placement
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| Series A senior notes
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| Amount: | $100 million
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| Coupon: | 3.20%
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| Maturity: | 2023
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| Series B senior notes
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| Amount: | $100 million
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| Coupon: | 3.37%
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| Maturity: | 2025
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