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US FILTER COMPLETES US$900 MILLION DEBT OFFERING US Filter Corporation has issued US$900 million of Remarketable or Redeemable Securities (ROARS) to qualified institutional buyers, as defined in Rule 144A under the US Securities Act of 1933, as amended.
These senior unsecured debt securities are being issued in two tranches, US$500 million 6.375 per cent ROARS, due 2011, and US$400 million 6.5 per cent ROARS, due 2013. The company intends to use the net proceeds to refinance existing indebtedness under the company's senior credit facility, to repay a portion of the outstanding indebtedness of Culligan Water Technologies lnc, after the pending acquisition of Culligan is completed, and for general corporate purposes.
The issuance of the ROARS by US Filter will not be, and has not been, registered under the Securities Act and the ROARS may not be offered or sold in the US absent registration or applicable exemption from the registration requirements of the Securities Act.
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