Flow Control Financing Arrangements for Pentair Merger

As part of the merger agreement amendment, Tyco, Flow Control, and Pentair agreed to cooperate on financing arrangements including the issuance of up to $900 million in unsecured senior notes by a Flow Control subsidiary and a $1.2 billion unsecured senior credit facility for Pentair and Flow Control, with an option to increase by $500 million.

“Tyco, Flow Control and Pentair will cooperate in good faith for (i) a subsidiary of Flow Control to issue up to $900 million of unsecured senior notes that will be guaranteed by Flow Control prior to the Distribution and (ii) Pentair and Flow Control to establish an unsecured senior credit facility of up to $1.2 billion (with an option to increase by $500 million) that will become effective upon the closing of the Merger.”

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