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4-Traders Homepage  >  Equities  >  Nyse  >  IDEX Corporation    IEX

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IDEX Corporation : Announces Pricing of Public Offering of Senior Notes

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12/08/2011 | 10:45pm CEST

IDEX CORPORATION (NYSE: IEX) today announced the pricing of its public offering of $350 million principal amount of 4.2% Senior Notes due 2021, with an effective interest rate of 5.4% as a result of the forward starting swap entered into July 2011. These Senior Notes were priced under an effective shelf registration statement filed with the Securities and Exchange Commission.

IDEX intends to use the net proceeds of this offering to repay outstanding indebtedness under its $700 million domestic, multi-currency bank revolving credit facility and for general corporate purposes, which may include strategic acquisitions that complement its business model.

J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Wells Fargo Securities, LLC are acting as joint book-running managers for the offering.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of the Senior Notes or any other securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering is being made only by means of a prospectus and the related prospectus supplement. Copies of the prospectus and related prospectus supplemental regarding the offering of the Senior Notes may be obtained from:

J.P. Morgan Securities LLC, 383 Madison Avenue, 3rd floor, New York, NY 10179;
212-834-4533

Merrill Lynch, Pierce, Fenner & Smith Incorporated, 100 West 33rd Street,
New York, NY 10001,
Attention: Prospectus Department; 800-294-1322

Wells Fargo Securities, LLC, 1525 West W.T. Harris Blvd., NC0675,
Charlotte, North Carolina 28262;
Attn: Capital Markets Client Support;1-800-326-5897

Forward-Looking Statements

Certain statements contained herein may constitute "forward-looking statements" intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements about the offering of the Senior Notes and are based on our reasonable current expectations. Forward-looking statements may be identified by the use of forward-looking words, such as "intend" and similar words and phrases. Factors, among others, that could cause our actual future actions to differ materially from those described in forward-looking statements include, but are not limited to market conditions and other factors described in our SEC filings. Any such forward-looking statements are not guarantees of future performances and actual results, developments and business decisions may differ from those contemplated by such forward-looking statements.

About IDEX

IDEX Corporation is an applied solutions company specializing in fluid and metering technologies, health and science technologies, dispensing equipment, and fire, safety and other diversified products built to its customers' exacting specifications. Its products are sold in niche markets to a wide range of industries throughout the world. IDEX shares are traded on the New York Stock Exchange and Chicago Stock Exchange under the symbol "IEX".

IDEX Corporation
Heath A. Mitts
Vice President ? Chief Financial Officer
847.498.7070


© Business Wire 2011
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Financials ($)
Sales 2017 2 210 M
EBIT 2017 484 M
Net income 2017 311 M
Debt 2017 577 M
Yield 2017 1,31%
P/E ratio 2017 26,62
P/E ratio 2018 24,48
EV / Sales 2017 3,98x
EV / Sales 2018 3,65x
Capitalization 8 220 M
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Mean consensus HOLD
Number of Analysts 15
Average target price 99,6 $
Spread / Average Target -7,5%
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NameTitle
Andrew K. Silvernail Chairman, President & Chief Executive Officer
Eric D. Ashleman Chief Operating Officer & Senior Vice President
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James P. MacLennan Chief Information Officer & Senior Vice President
William M. Cook Lead Independent Director
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