Invensys completes £400 million refinancing | Automation.com

Invensys completes £400 million refinancing

August 13, 2008 - Invensys agreed to a £400 million refinancing deal with the help of The Royal Bank of Scotland ("RBS") to help grow its business operations.

The company has facilities in more than 60 countries and their software or other solutions are in use in around 180 countries. By combining industry-leading software and technological expertise with in-depth industrial knowledge, Invensys offers customers real-time applications which can effectively control and optimise their specific processes.

RBS is a Joint Mandated Lead Arranger and a Sole Fronting Bank for the refinancing facility. The £400million refinancing package is being funded by a group of banks led by RBS, HSBC and Lloyds TSB Bank.

The RBS team, led by Peter Brotherton, Director of Client Coverage for the Manufacturing & Infrastructure Group at RBS, recognised the benefits of a collaborative approach and involved a team from the bank's Major Corporate Banking area, Global Transaction Services and Loan Markets.

Ulf Henriksson, CEO of Invensys plc, said:

"This new facility meets our anticipated financing requirements for the foreseeable future and creates additional flexibility as we position ourselves for growth. In particular, it allows us to make more bolt-on acquisitions to strengthen Process Systems and Rail Group. I would like to thank our banks for their strong support in achieving this further milestone for Invensys."

Peter Brotherton, Director of Client Coverage for the Manufacturing & Infrastructure Group at RBS, added:

"Invensys is a very robust performing business and we are pleased to be in partnership with them. One of the critical success factors in this transaction has been our strong working relationship and knowledge of their business. The new financial package put in place for the company means that they can implement their plans from a sound and secure platform. We look forward to continuing to support their growth."

The RBS Group is one of the world's leading financial services companies providing a range of retail and corporate banking, financial markets, consumer finance, insurance, and wealth management services. RBS Group operates in over 50 countries across Europe, the Americas, Asia and the Middle East serving more than 40 million customers and employing more than 170,000 people. In addition to the provision of a full range of banking services under The Royal Bank of Scotland and NatWest brands, RBS Group also includes ABN AMRO, Citizens Financial Group, Ulster Bank, Coutts Group, Direct Line and Churchill.
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