Regulatory News Item
London, 14 December 2010
For immediate release
SMITHS COMPLETES REFINANCING WITH US$800M CREDIT FACILITY
Smiths Group plc today announces it has completed the refinancing of its existing £660m bank facility with a new US$800m revolving credit facility arranged by the Group's 10 global relationship banks. The new facility, which matures in December 2015, is un-drawn.
Peter Turner, Finance Director, said: "The refinancing of our revolving credit facility, taken together with the capital market financings in the past two years, provides a robust long-term financial platform to underpin the delivery of our corporate strategy. Its successful completion reflects the close relationship we enjoy with our banking partners".
Smiths Group (www.smiths.com) is a world leader in the practical application of advanced technologies. It comprises five divisions - Smiths Detection, John Crane, Smiths Medical, Smiths Interconnect and Flex-Tek - that supply products and services for markets in threat and contraband detection, energy, medical devices, communications and engineered components. Smiths Group employs around 23,000 people in more than 50 countries.
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