Flowserve to repay $255 million of revolver with funds from new notes

By Marisa Wong

Madison, Wis., March 17 – Flowserve Corp. intends to repay about $255 million of debt outstanding under its revolving credit facility dated Aug. 20, 2012 with Bank of America, NA as swingline lender, letter-of-credit issuer and administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

The company plans to pay down its revolver using proceeds from an offering of 1.25% senior notes due 2022.

The company plans to use any remaining proceeds for general corporate purposes, which may include additional acquisitions.

The flow control systems manufacturer is based in Irving, Texas.

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