Sensus USA schedules launch of new credit facility for Thursday

By Sara Rosenberg

New York, April 12 - Sensus USA Inc. is set to hold a meeting on Thursday to launch a proposed senior secured credit facility to prospective lenders, according to a news release.

Proceeds from the credit facility, along with cash on hand, will be used to fund a tender offer for the company's $275 million 8 5/8% senior subordinated notes due 2013 and to refinance existing bank debt.

The tender offer will expire on May 9.

Sensus is a Raleigh, N.C.-based technology company providing energy and water utility customers with conservation products and services.

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