Debt Investors

Invensys plc announced on 30 March 2012 that it had signed two 5-year multi-currency bank facilities totalling £600 million, comprising a £350 million bonding and guarantee facility and a £250 million revolving credit facility. Following completion of the sale of Invensys Rail on 2 May 2013, the Group’s revolving credit facility was reduced by £100 million to £150 million. The Group’s guarantee facility remains at £350 million.

The main features of the facility are as follows:

• The Joint Bookrunners and Joint Mandated Lead Arrangers were Bank of America Merrill Lynch, Barclays, HSBC, J.P. Morgan Cazenove, Lloyds and RBS. Lloyds and RBS also acted as Joint Coordinators.
• Borrowers are Invensys plc and certain subsidiaries.
• It contains customary covenants in relation to financial ratios.
• Acquisitions and disposals require lender consent above certain specified levels.
• Interest is charged at LIBOR plus 1.25% for the first twelve months, and then at a rate based on balance sheet leverage.