KKR and banks commit $1.9 billion debt financing for Ingersoll Rand Industrial

In connection with the transaction, Citigroup, KKR Capital Markets, KKR Corporate Lending, and Goldman Sachs committed to provide $1.9 billion in debt financing to Ingersoll Rand Industrial to fund the distribution payment to Ingersoll Rand.

“In connection with the Distribution Payment, Gardner Denver and Ingersoll Rand Industrial have entered into a commitment letter dated April 30, 2019 by and among Citigroup Global Market Inc. (on its behalf and/or on behalf of certain of its affiliates), KKR Capital Markets LLC, KKR Corporate Lending LLC and Goldman Sachs Bank USA pursuant to which, among other things, certain parties thereto have committed to provide debt financing to the Ingersoll Rand Industrial Borrower with net proceeds of $1.9 billion”

Signals are extracted from public coverage and print archives and pinned to a verbatim quote, presented as reported by their sources; naming a company in a signal is not an accusation against it. The verified mark denotes a high-confidence, corroborated signal. See our methodology and legal notes.