JPMorgan, Others Provide $600 Million Facility to Hillenbrand
Hillenbrand has successfully replaced its $400 million revolving credit facility, which was due to expire in early 2013, with a new $600 million multi-currency revolving facility. The new credit facility has a five-year term.
“This new credit facility provides us additional financial flexibility to support both our acquisition strategy and ongoing operations,” said Kenneth A. Camp, president and CEO of Hillenbrand. “The enhanced features allow us to more efficiently provide capital to our growing international operations in their local currencies,” he added.
JPMorgan Securities and RBS Citizens, which acted as joint bookrunners and joint lead arrangers, arranged the syndication of the new facility. It is further supported by the company’s key banking partners, including: Fifth Third Bank, PNC Bank, U.S. Bank, Wells Fargo Bank, HSBC Bank USA, Regions Bank, The Northern Trust Company and Branch Banking & Trust Company.
Hillenbrand is a global diversified industrial company that makes and sells premium business-to-business products and services for a wide variety of industries.