AcquisitionsMay 6, 2026, 04:37 PM
Flowserve to Issue $500M Senior Notes for Trillium Flow Acquisition
AI Summary
Flowserve Corporation has entered into an underwriting agreement to offer and sell $500 million in 5.700% Senior Notes due 2036. The primary purpose of this debt issuance is to fund the acquisition of Trillium Flow Technologies Valves Division. The offering is expected to close on May 12, 2026, with a contingency plan to redeem the notes at 101% of principal if the acquisition is not completed by February 4, 2027.
Key Highlights
- Flowserve entered an underwriting agreement for $500 million aggregate principal amount of 5.700% Senior Notes due 2036.
- The net proceeds will primarily fund the acquisition of Trillium Flow Technologies Valves Division.
- The offering of the Notes is expected to close on May 12, 2026.
- If the Trillium Flow Acquisition is not consummated by February 4, 2027, the Notes will be redeemed at 101% of principal.
- BofA Securities, J.P. Morgan Securities, and Mizuho Securities USA LLC are representatives of the underwriters.
Price Impact
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