Flowserve Corporation: Flowserve Announces Pricing of $300 Million of Senior Notes Due 2023

 Flowserve Corporation: Flowserve Announces Pricing of $300 Million of Senior
                                Notes Due 2023

DALLAS, October 28, 2013 - Flowserve Corporation (NYSE:FLS), a leading
provider of flow control products and services for the global infrastructure
markets, today announced that it has priced an underwritten public offering of
$300 million aggregate principal amount of 4.00% Senior Notes due 2023 (the
"Notes"), at a price equal to 99.532% of the aggregate principal amount of the
Notes. The company anticipates that the offering will close on or around
November 1, 2013, subject to customary closing conditions.

The company expects to receive net proceeds of approximately $295 million from
the offering, after deducting discounts to the underwriters and estimated
offering fees and expenses. The company intends to use the net proceeds of the
offering to repay the current balance on the company's revolving credit
facility and use the remainder for general corporate purposes, which may
include acquisitions.

J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Wells Fargo Securities, LLC and Credit Agricole Securities (USA)
Inc. are acting as joint book running managers for the offering. When
available, a copy of the prospectus for the offering may be obtained from the
Securities and Exchange Commission's Web site at www.sec.gov. In addition, a
copy of the prospectus for the offering may be obtained from J.P. Morgan
Securities LLC by calling (collect) (212) 834-4533, Merrill Lynch, Pierce,
Fenner & Smith Incorporated by calling (toll-free) (800) 294-1322 or Wells
Fargo Securities, LLC by calling (toll-free) (800) 326-5897.

This press release does not constitute an offer to sell or the solicitation of
an offer to buy securities. Any offering of securities will be made only by
means of a prospectus.

Flowserve Contacts
Investor Contacts:
Jay Roueche, vice president, Investor Relations & Treasurer, (972) 443-6560
Mike Mullin, director, Investor Relations, (972) 443-6636

Media Contacts:
Lars Rosene, vice president, Global Communications and Public Affairs, (972)
443-6644
Amy Allen, manager, Global Communications and Public Affairs, (972) 443-6501

About Flowserve: Flowserve Corp. is one of the world's leading providers of
fluid motion and control products and services. Operating in more than 50
countries, the company produces engineered and industrial pumps, seals and
valves as well as a range of related flow management services. More
information about Flowserve can be obtained by visiting the company's Web site
at www.flowserve.com.

Safe Harbor Statement: This news release includes forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934, which are made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform Act of
1995, as amended. Words or phrases such as, "may," "should," "expects,"
"could," "intends," "plans," "anticipates," "estimates," "believes,"
"forecasts," "predicts" or other similar expressions are intended to identify
forward-looking statements, which include, without limitation, earnings
forecasts, statements relating to our business strategy and statements of
expectations, beliefs, future plans and strategies and anticipated
developments concerning our industry, business, operations and financial
performance and condition.

The forward-looking statements included in this news release are based on our
current expectations, projections, estimates and assumptions. These statements
are only predictions, not guarantees. Such forward-looking statements are
subject to numerous risks and uncertainties that are difficult to predict.
These risks and uncertainties may cause actual results to differ materially
from what is forecast in such forward-looking statements, and include, without
limitation, the following: a portion of our bookings may not lead to completed
sales, and our ability to convert bookings into revenues at acceptable profit
margins; the potential for unexpected cancellations or delays of customer
orders in our reported backlog; our dependence on our customers' ability to
make required capital investment and maintenance expenditures; risks
associated with cost overruns on fixed-fee projects and in taking customer
orders for large complex custom engineered products; the substantial
dependence of our sales on the success of the oil and gas, chemical, power
generation and water management industries; the adverse impact of volatile raw
materials prices on our products and operating margins; economic, political
and other risks associated with our international operations, including
military actions or trade embargoes that could affect customer markets,
particularly Middle Eastern markets and global oil and gas producers, and
non-compliance with U.S. export/re-export control, foreign corrupt practice
laws, economic sanctions and import laws and regulations; our exposure to
fluctuations in foreign currency exchange rates, including in
hyperinflationary countries such as Venezuela; our furnishing of products and
services to nuclear power plant facilities and other critical processes;
potential adverse consequences resulting from litigation to which we are a
party, such as litigation involving asbestos-containing material claims; a
foreign government investigation regarding our participation in the United
Nations Oil-for-Food Program; expectations regarding acquisitions and the
integration of acquired businesses; our relative geographical profitability
and its impact on our utilization of deferred tax assets, including foreign
tax credits; the potential adverse impact of an impairment in the carrying
value of goodwill or other intangible assets; our dependence upon third-party
suppliers whose failure to perform timely could adversely affect our business
operations; the highly competitive nature of the markets in which we operate;
environmental compliance costs and liabilities; potential work stoppages and
other labor matters; our inability to protect our intellectual property in the
U.S., as well as in foreign countries; obligations under our defined benefit
pension plans; and other factors described from time to time in our filings
with the Securities and Exchange Commission.

All forward-looking statements included in this news release are based on
information available to us on the date hereof, and we assume no obligation to
update any forward-looking statement.

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Source: Flowserve Corporation via Thomson Reuters ONE
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