Dresser to refinance 9 3/8% notes

By Angela McDaniels

Seattle, Sept. 5 - Dresser, Inc. plans to refinance its 9 3/8% senior subordinated notes due 2011, according to a company news release.

The company said it will refinance the notes as soon as practicable after the terms and conditions of the refinancing have been finalized - it will use proceeds from a new credit facility commitment it received from Morgan Stanley and Credit Suisse.

The company will also refinance its senior secured credit facility and senior unsecured term loan.

Dresser is a Dallas-based designer, manufacturer and marketer of highly engineered equipment and services sold primarily to customers in the flow control, measurement systems and compression and power systems segments of the energy industry.

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