This new facility replaces the Pall US$500 million revolver that was due to expire in June 2011. This transaction follows on from the recent refinancing of Pall's US$280 million senior notes due in 2012 with proceeds of senior notes now due in 2020.
"These transactions further secure Pall’s liquidity for years to come and enhance our operational flexibility. The timing was optimal given the historically low interest rates and abundance of credit. The enthusiastic participation of the investment and banking communities in these transactions affirms our confidence in Pall's financial strength and prospects,” said Lisa McDermott, chief financial officer at Pall.
