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Flowserve repays some term debt using borrowings under its receivables purchase agreement
By Sara Rosenberg
New York, Oct. 12 - Flowserve Corp. reduced debt under its credit facility using about $60 million of borrowings under its new $75 million receivables purchase agreement with Jupiter Securitization Corp. and Bank One, according to an 8-K filed with the Securities and Exchange Commission on Tuesday.
As a result of this Oct. 7 paydown, the company's term loan A was reduced by $16 million and its term loan C was reduced by $44 million.
Flowserve is an Irving, Texas, developer and manufacturer of precision-engineered flow control equipment.
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