Dresser-Rand Group has secured bank commitments totaling $1 billion, including a $600 million revolving credit agreement and a $400 million term facility. The $600 million senior secured loan has replaced a $500 million loan that was due to mature on Aug.30, 2012.
The new loan is due to mature on March 15, 2016. The $400 million term facility is a senior secured credit facility. The custom-engineered rotating equipment solutions supplier also entered a $275 million accelerated stock buyback transaction with Goldman Sachs.
Click here for the release from PR Newswire.