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JPMorgan Chase Agents Ingersoll Rand’s $1B Unsecured Revolver

March 27, 2014, 07:11 AM
Filed Under: Manufacturing

On March 20, 2014, Ingersoll-Rand Global Holding Company Limited (the "Borrower"), Ingersoll-Rand plc ("IR Parent"), Ingersoll-Rand Company Limited ("IR Company Limited"), Ingersoll-Rand International Holding Limited ("IR International"), Ingersoll-Rand Company ("IR Company" and, together with IR Parent, IR International and IR Company Limited, the "Guarantors"), JPMorgan Chase Bank, N.A., as Administrative Agent, Citibank, N.A., as Syndication Agent, Bank of America, N.A., BNP Paribas, Deutsche Bank Securities Inc., Goldman Sachs Bank USA, Mizuho Bank, Ltd., and The Bank of Tokyo-Mitsubishi UFJ, Ltd. as Documentation Agents, and J.P. Morgan Securities LLC and Citigroup Global Markets Inc., as joint lead arrangers and joint bookrunners, and certain lending institutions from time to time parties thereto, entered into a new $1 billion senior unsecured revolving credit agreement (the "2014 Revolving Credit Agreement"). The 2014 Revolving Credit Agreement has a term of 5 years. The proceeds of the 2014 Revolving Credit Agreement will be used (i) for working capital purposes of IR Parent, the Borrower and their respective subsidiaries, (ii) to support the commercial paper programs of the Borrower and any additional borrowers under the 2014 Revolving Credit Agreement and (iii) for other general corporate purposes of IR Parent, the Borrower and their respective subsidiaries.

All obligations under the 2014 Revolving Credit Agreement will be guaranteed on a senior basis by the Guarantors. The 2014 Revolving Credit Agreement contains negative and affirmative covenants and events of default customary for credit facilities of this type.

View the full text of the SEC filing here.  







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