Tyco Establishes $2.5 Billion Revolving Credit Facilities

Tyco and its subsidiaries entered into three revolving credit facilities with an initial aggregate commitment of $2.5 billion, set to increase to $4.25 billion upon the separation of Covidien and Tyco Electronics. These facilities replace existing credit lines and will be used for working capital and general corporate purposes.

“On April 25, 2007, TIGSA, Tyco and certain other subsidiaries of Tyco entered into three revolving credit facilities with the lenders named therein (each, a “Revolving Credit Facility” and together, the “Revolving Credit Facilities”). The aggregate commitment of the lenders under the Revolving Credit Facilities initially is $2.5 billion and will increase to $4.25 billion at the time of the anticipated separation of Covidien and Tyco Electronics from Tyco.”

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