Roper gets $1.1 billion credit facility

By Sara Rosenberg

New York, July 7 - Roper Industries Inc. closed on a new $1.1 billion unsecured credit facility on Monday, according to an 8-K filed with the Securities and Exchange Commission.

JPMorgan and Wachovia acted as the joint lead arrangers on the deal, and JPMorgan, Wachovia and Bank of America were the bookrunners.

The facility consists of a $350 million two-year term loan priced at Libor plus 175 basis points and a $750 million five-year revolver priced at Libor plus 150 bps.

There is a $350 million accordion feature.

Proceeds were used to replace the company's amended and restated secured credit facility.

Roper is a Sarasota, Fla.-based designer, manufacturer and distributor of energy systems and controls, scientific and industrial imaging products and software, industrial technology products, and radio frequency products and services.

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