LAKE FOREST, Ill.--(BUSINESS WIRE)--
IDEX CORPORATION (IEX) announced today that it has closed a new five-year, $800 million senior revolving credit facility. The facility was financed through a syndication of 9 financial institutions, co–led by Bank of America, N.A., JP Morgan Chase Bank, N.A., and Wells Fargo Bank, National Association, with HSBC Bank USA, National Association, Mizuho Bank, Ltd., PNC Bank, National Association, and U.S. Bank, National Association, acting as co–documentation agents, and MUFG Bank, Ltd. and Bank of China, Chicago Branch as additional lenders.
The new facility, which replaces the company’s existing $700 million credit facility that was due to expire in June 2020, provides greater capacity and capitalizes on favorable market conditions.
IDEX (IEX) is a company that has undoubtedly touched your life in some way. In fact, IDEX businesses make thousands of products that are mission-critical components in everyday activities. Chances are the car you’re driving has a BAND-IT® clamp holding your side airbag safely in place. If you were ever in a car accident, a Hurst Jaws of Life® rescue tool may have saved your life. If you or a family member is battling cancer, your doctor may have tested your DNA in a quest to find the best targeted medicine for you. It’s likely your DNA test was run on equipment that contains components made by our growing IDEX Health & Science team. Founded in 1988 with three small, entrepreneurial manufacturing companies, we’re proud to say that we now call 40 diverse businesses around the world part of the IDEX family. With 7,000 employees and manufacturing operations in more than 20 countries, IDEX is a high-performing, global $2+ billion company committed to making trusted solutions that improve lives. IDEX shares are traded on the New York Stock Exchange under the symbol “IEX”.
For further information on IDEX Corporation and its business units, visit the company’s website at www.idexcorp.com.