BATESVILLE, Ind., July 30, 2012 /PRNewswire/ -- Hillenbrand (NYSE: HI) 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 Chief Executive Officer of Hillenbrand. "The enhanced features allow us to more efficiently provide capital to our growing international operations in their local currencies," he added.
Syndication of the new facility was arranged by JPMorgan Securities LLC and RBS Citizens, N.A., which acted as joint bookrunners and joint lead arrangers for the transaction. It is further supported by the company's key banking partners, including: Fifth Third Bank; PNC Bank, N.A.; U.S. Bank, N.A.; Wells Fargo Bank, N.A.; HSBC Bank USA, N.A.; Regions Bank; The Northern Trust Company; and Branch Banking & Trust Company.
More information about the credit facility will be provided in Hillenbrand's upcoming 10-Q filing and Third Quarter earnings teleconference and on the company's website at www.Hillenbrand.com.ABOUT HILLENBRANDHillenbrand ( www.Hillenbrand.com) is a global diversified industrial company that makes and sells premium business-to-business products and services for a wide variety of industries. We pursue profitable growth and meaningful dividends for our shareholders by leveraging our leading brands, robust cash generation capabilities and strong core competencies. HI-INC-F SOURCE Hillenbrand, Inc.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV