Flowserve to repay $250 million of loan debt with offering proceeds

By Ashley Montgomery

Kansas City Kan., Sept. 6 - Flowserve Corp. plans to use the proceeds from its senior notes offering to repay its $250 million bridge loan, according to a 425B5 filed with the Securities and Exchange Commission.

The company entered into a $250 million bridge loan with JPMorgan Chase Bank, NA on June 15. The term of the loan is 364 days.

Remaining proceeds will be used for general corporate purposes, including repayment of revolving credit facility borrowings repurchases of common stock.

Flowserve is an Irving, Texas-based provider of fluid motion and control products and services.

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