Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Gardner Denver Said to Set Rate on $2.73 Billion in Buyout Loans

Gardner Denver Inc., the industrial equipment maker that KKR & Co. is acquiring, set the rate on $2.73 billion of loans it’s seeking to support the buyout, according to a person with knowledge of the transaction.

The company’s proposing to pay interest at 4 percentage points to 4.25 percentage points more than the London interbank offered rate with a 1 percent minimum on the lending benchmark on a $1.8 billion term loan due in seven years, said the person, who asked not to be identified because terms are private.

KKR & Co., the private-equity firm run by Henry Kravis and George Roberts, agreed to buy Wayne, Pennsylvania-based Gardner Denver for about $3.7 billion. The deal is valued at about $3.9 billion, including the assumption of Gardner Denver’s debt.

A $525 million portion denominated in euros that will expire in seven years may pay interest at 4.25 percentage points to 4.5 percentage points more than Euribor with a 1 percent floor on the lending benchmark, the person said. Both loans are offered to investors at 99 cents.

UBS AG, Barclays Plc, Citigroup Inc., Deutsche Bank AG, Mizuho Bank Ltd, Royal Bank of Canada, Macquarie Group Ltd. and HSBC Holdings Plc are arranging the financing, which includes a $400 million revolving line of credit that comes due in five years.

Vikram Kini, a vice president in investor relations at Gardner Denver, didn’t immediately return a phone call seeking comment.

In a revolving line of credit, money may be borrowed again once it’s repaid; in a term loan it can’t.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.