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Smiths will use the proceeds from the Notes for general corporate purposes and to repay short-term borrowings drawn from committed bank facilities. These committed bank facilities are available to Smiths until June 2012 and will continue unchanged. The Notes have been issued by Smiths and have been co-guaranteed by Smiths Group International Holdings Limited. The Notes will rank pari passu with all Smiths' existing unsecured indebtedness. The Notes have been purchased by a single debt investor, Pricoa Capital Group, which is an existing investor in Smiths through its participation in the US$250m Senior Notes maturing in 2013. John Langston, Finance Director of Smiths Group, said "We are delighted to have completed this debt financing at the same time as extending our long term relationship with a leader in the US private debt market. This transaction increases liquidity at the Group and significantly extends the maturity of our debt". Marie Fioramonti, managing director, Pricoa Capital Group said, "Smiths Group is an investment-grade company that we know well and like. Its diversified range of businesses, both by geography and sector, provide underlying security and predictable cash flows, well-suited for a long-term private placement. We are delighted to be continuing our relationship with Smiths" About Smiths Group Smiths is a global technology company listed on the London Stock Exchange. A world leader in the practical application of advanced technologies, Smiths Group delivers products and services for the threat & contraband detection, energy, medical devices, communications and engineered components markets worldwide. Our products and services make the world safer, healthier and more productive. Investor Relations Peter Durman +44 (0)20 7808 5535 +44 (0)7825 145336 Media Colin McSeveny +44 (0)20 7808 5534 Anthony Cardew Cardew Group +44 (0)20 7930 0777 This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement. SOURCE: Smiths Group PLC For full details for SMGKF click here.
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