Edwards Group Limited Refinances Its Credit Facilities

Edwards Group Limited Refinances Its Credit Facilities

CRAWLEY, WEST SUSSEX, United Kingdom, March 27, 2013 (GLOBE NEWSWIRE) --
Edwards Group Limited (Nasdaq:EVAC) ("Edwards" or the "Company") today
announced that it has completed a refinancing of its credit facilities, taking
advantage of favorable market conditions to reduce the interest rate and
extend the maturities of its borrowings, which comprise a $560 million term
loan and a $90 million revolver facility.

As a result of this transaction, Edwards has:

  *Reduced the applicable interest rate on its term loan by 50bp to 350bp
  *Reduced USD Libor floor from 1.5% to 1.25%
  *Extended the maturity of the term loan facility by three years and 10
    months to March 2020
  *Reduced the principal amount borrowed under the term loan by $18.1 million
    through use of cash on balance sheet
  *Retained a similar covenant-light profile to the previous facility,
    including 25bp step-down in interest rate when leverage ratio falls below
  *Retained a revolver facility of $90 million, with a 25bp reduction in
    interest rate

In conjunction with the transaction, both credit rating agencies reconfirmed
their corporate ratings view as B1/Stable (Moody's) and B+/Stable (S&P).

Transaction details

The transaction has been effected through Edward's wholly-owned subsidiaries
Edwards (Cayman Islands I) Limited and Edwards (Cayman Islands II) Limited who
have entered into an amendment and restatement agreement (the "Amendment")
effective as of March 26, 2013 to amend and restate their existing credit
agreement, dated as of May 31, 2007, as amended and restated (the "Credit

The Amendment provides for, among other things, the refinancing and
replacement in full of the Company's existing credit facilities with a $560
million term loan facility and an undrawn $90 million revolving facility, a
reduction of the effective interest rate by 75bps to a minimum of 4.75% and
the extension of the maturity date of the term loan facility and the revolving
facility to March 31, 2020 and March 31, 2018, respectively. A $11.5 million
tranche of the term loan due to be settled in May 2014 has also been re-paid
as part of this arrangement.

As part of the updated Credit Agreement, the calculation of the leverage ratio
has been revised and is now calculated without adjustment for capitalized
development expenditure, which better aligns it with the Group's ongoing
reporting under IFRS. If the revised Credit Agreement had been in place at
December 31, 2012 the leverage ratio would have been 2.4x as opposed to the
2.6x as reported.

Forward-Looking Statements

This document may include forward-looking statements such as statements
regarding the Company's business strategy, financial condition, results of
operations and market data, as well as other statements that are not
historical facts. By their nature, forward-looking statements are subject to
numerous factors, risks and uncertainties that could cause actual outcomes and
results to be materially different from those projected. Readers are cautioned
not to place undue reliance on these forward-looking statements. Except for
any ongoing obligation to disclose material information as required by the
United States federal securities laws, the Company does not have any intention
or obligation to publicly update or revise any forward-looking statements
after the Company distributes this document, whether to reflect any future
events or circumstances or otherwise. For a discussion of potential risks and
uncertainties, please refer to the risk factors listed in the Company's SEC
filings. Copies of the Company's SEC filings are available from the SEC
website, www.sec.gov.

About Edwards

Edwards is a leading manufacturer of sophisticated vacuum products and
abatement systems and a leading provider of related value-added services for
the manufacture of semiconductors, flat panel displays, LEDs and solar cells
and a leader in vacuum technology for industrial, pharmaceutical, chemical,
scientific, process, glass coating and food packaging industries as well as a
wide range of R&D applications.

Edwards has over 3,200 full-time employees and over 500 temporary workers
operating in approximately 30 countries worldwide engaged in the design,
manufacture and support of high technology vacuum and exhaust management

Edwards' American Depositary Shares trade on The NASDAQ Global Select Market
under the symbol EVAC. Further information about Edwards can be found at

CONTACT: Investor Relations:
         Ross Hawley
         Head of Investor Relations
         +44 (0)1293 528844

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