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INVENSYS ANNOUNCES US$1,390,000,000 MULTICURRENCY REVOLVING FACILITY
24 April 2002 - Invensys plc
| Invensys plc, the international production technology and energy management group ('Invensys'), today announces that it has signed a US$1.39 billion (approx. 0.96 billion) multicurrency revolving facility agreement. |
The six equally participating Lead Arrangers are: Bank of America N.A., Deutsche Bank AG, HSBC Bank plc, J. P. Morgan plc, Morgan Stanley Dean Witter Bank Limited and The Royal Bank of Scotland PLC, with HSBC Investment Bank plc acting as Facility Agent. Legal advisers for the Company were Slaughter and May and for the Facility Agent Clifford Chance. It is not intended that this facility will be syndicated. The facility has an initial term of 364 days, with a 90 day term-out option, thereby representing a July 2003 maturity. The Company has already announced its intention to enter the debt capital markets in 2002 and complete a disposal programme amounting to 1.5 billion by March 2003. The purpose of this facility is to enable the company to carry out its planned programme of refinancing and disposals on an optimal timetable and meet the August 2002 maturity of certain of its existing facilities.
http://www.invensys.com
About: Invensys plc
Invensys is a global automation, controls and process solutions Group. We empower you to increase productivity, reduce waste, remove cost from your supply chain, boost profitability and demonstrate measurable improvement in your company's overall performance.
As a global leader in resource productivity, Invensys offers products and services, expertise, and technologies that enable you to maximize return on investments, conserve resources and optimize performance across your value chain.Operating in more than 60 countries worldwide, Invensys meets the needs of the process and batch industries - from oil & gas, powerand utilities, chemicals, and rail systems to food & beverage, healthcare, and data communications - as well as the discrete and hybrid manufacturing sectors, and provides components, systems and services to the heating management, commercial refrigeration, residential safety and automotive industries, and electronic and electro-mechanical systems and components to appliance and related industries. Not only do we help improve your bottom line, by enabling you to manage your assets more efficiently, but we also help you to protect the environment. As the result of our efforts, we have been awarded the prestigious Energy Star Label by the United States Environmental Protection Agency (EPA). Taking an integrated strategic approach to increasing your productivity, we enable you to increase output from your existing plants and technology investments, provide you with solutions that create more efficiencies in your supply chain, and increase performance at every level. From the production line to executive offices, from customer relationship and procurement management to distribution logistics, we can help you improve productivity, optimize performance, and increase profitability. |
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