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Stock impact report

IDEX Corporation Announces Pricing of Public Offering of Senior Notes

IDEX Corporation (IEX) 
Last idex corporation earnings: 4/23 04:02 pm Check Earnings Report
Company Research Source: Business Wire
LAKE FOREST, Ill.--(BUSINESS WIRE)--IDEX Corporation (NYSE: IEX) today announced the pricing of its public offering of $500.0 million principal amount of 3.0% Senior Notes due 2030. The notes will be senior obligations that rank equally with all of IDEX’s other senior unsecured indebtedness. Closing of the offering is expected to occur on April 29, 2020, subject to the satisfaction of customary closing conditions.IDEX estimates that the net proceeds from the offering will be approximately $495.0 million, after deducting underwriting discounts and commissions and our estimated offering expenses. The company intends to use approximately $313.7 million of the net proceeds from this offering to redeem and repay all $300.0 million aggregate principal amount outstanding of the company’s 4.5% Senior Notes due December 15, 2020 and related accrued interest and redemption premiums, and the balance of the net proceeds will be used for general corporate purposes.BofA Securities, Inc., J.P. M Show less Read more
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