Hillenbrand draws down on revolving credit facility

By Wendy Van Sickle

Columbus, Ohio, April 6 – Hillenbrand, Inc. recently drew down on its existing revolving credit facility, according to a news release.

Between the drawdown and a portion of the proceeds from the recent sale of its Cimcool business, the company said it increased cash holdings by about $200 million.

As of March 31, the company was in full compliance with all covenants under its revolver. Hillenbrand estimates that as of that date, it had liquidity of approximately $475 million, including approximately $375 million in cash on hand.

The company said it continues to evaluate additional measures to maintain its financial flexibility.

Hillenbrand is a diversified industrial company based in Batesville, Ind. Milacron is a Cincinnati-based provider of plastics processing technologies and industrial fluids.

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