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August 02, 2015 9:55 PM ET


Company Overview of RBS Global Inc.

Company Overview

RBS Global, Inc., a multi-platform industrial company, designs, manufactures, markets, and services process and motion control, and water management products worldwide. Its Process and Motion Control Platform segment offers gears, couplings, industrial bearings, modular belting products, aerospace bearings and seals, industrial chain and conveying equipment, torque limiters, and special components comprising electric motor brakes, miniature process and motion control components, and security devices under the Steelflex, Thomas, Omega, Rex, Viva, Wrapflex, Lifelign, True Torque, Addax, Autogard, Falk, and Link-Belt brand names. This segment serves the mining, general industrial applications, ...

4701 West Greenfield Avenue

Milwaukee, WI 53214

United States





Key Executives for RBS Global Inc.

Chief Executive Officer, President, Director, Chief Executive Officer of REXNORD LLC and President of REXNORD LLC
Age: 44
Chief Financial Officer, Senior Vice President and Director
Age: 43
Vice President, General Counsel and Secretary
Age: 56
Executive Vice President of Corporate & Business Development, Director and Member of Audit Committee
Age: 47
Compensation as of Fiscal Year 2015.

RBS Global Inc. Key Developments

RBS Global Inc. and Rexnord LLC Announce Completion of Tender Offer and Consent Solicitation to Purchase for Cash Any and All of the Outstanding 8½% Senior Notes Due 2018

RBS Global Inc. and Rexnord LLC announced that on September 5, 2013 they have completed tender offer and consent solicitation (the 'tender offer') to purchase for cash any and all of the outstanding 8½% senior notes due 2018 (the 'notes'). The tender offer expired at 12:00 midnight, New York city time, on September 4, 2013 (the 'expiration time'). The issuers received valid tenders from the holders of $977,962,000 aggregate principal amount, or approximately 85.41% of the outstanding amount, of the notes by the expiration time, of which $15,000 principal amount was tendered between the early payment deadline, August 20, 2013 at 5:00 p.m., New York city time (the 'early tender time'), and the expiration time. on September 5, 2013, the issuers accepted for payment all of the notes validly tendered after the early tender time and prior to the expiration time.

RBS Global, Inc. and Rexnord LLC Announce Early Settlement of Tender Offer and Call for Redemption of 81/2% Senior Notes Due 2018

Pursuant to their previously announced tender offer and consent solicitation, RBS Global Inc. and Rexnord LLC (the Issuers), which are wholly owned subsidiaries of Rexnord Corporation, received tenders from the holders of $977,947,000 aggregate principal amount, or approximately 85.41% of the outstanding amount, of their 81/2% Senior Notes due 2018 (the Notes) by the early tender payment deadline, August 20, 2013 at 5:00 p.m., New York City time (the Early Tender Time). The complete terms and conditions of the tender offer for the Notes are detailed in the Issuers' Offer to Purchase and Consent Solicitation dated August 7, 2013, as supplemented August 8, 2013, and the related Consent and Letter of Transmittal (together, the Offer Documents). Pursuant to the terms of the Offer Documents, the Issuers have accepted for purchase $977,947,000 aggregate principal amount, or approximately 85.41%, of the Notes. Each holder who validly tendered its Notes prior to the Early Tender Time received, on August 21, 2013, the total consideration of $1,096.90 per $1,000 principal amount of the Notes tendered, which includes $1,066.90 as the tender offer consideration and $30.00 as a consent payment. In addition, accrued and unpaid interest up to, but not including, August 21, 2013 was paid in cash on all validly tendered and accepted Notes.

RBS Global, Inc. and Rexnord LLC Enter into Amendment to Their Senior Secured Credit Facilities

Rexnord Corporation announced that its wholly-owned subsidiaries, RBS Global Inc. and Rexnord LLC, entered into an amendment to their senior secured credit facilities providing for a new 7-year term loan in an aggregate amount of approximately $1.95 billion, in addition to their existing $265 million revolving credit facility. The Refinancing Term Loan matures on August 21, 2020, and is subject to a leveraged-based pricing grid, with initial pricing of LIBOR (subject to a 1.00% floor) plus 3.00%. The proceeds of the Refinancing Term Loan were used to purchase, redeem or discharge all of the Borrowers' outstanding 81/2% Senior Notes due 2018, refinance the Borrowers' previously existing senior secured term loan and pay related fees and expenses. At prevailing interest rates and subject to a 1.00% LIBOR floor in the Refinancing Term Loan, Rexnord expects the refinancing will reduce annual pre-tax interest expense by approximately $41 million to $48 million depending on the timing and amount of any interest rate hedging strategies management may pursue. Although the Borrowers will not incur prepayment penalties as a result of the refinancing of the senior secured credit facilities, they will incur a pre-tax charge of approximately $130 million to $135 million during the second quarter of fiscal 2014 due to the prepayment premiums related to the Notes and non-cash write-off of debt issuance costs associated with the refinancing.

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