04:33 PM EDT, 05/10/2024 (MT Newswires) -- Ingersoll Rand ( IR ) said late Friday it has completed a series of bond offerings and secured a revolving credit facility.

The company raised $3.276 billion in net proceeds from the bond offering, of which $1.236 billion was used to repay loans under an existing credit facility and $2 billion will be used to partially fund the cash portion for the ILC Dover acquisition. The rest of the proceeds will be for general corporate purposes.

The bond offerings comprised of five tranches with three-year, five-year, seven-year, 10-year and 30-year maturities.

The company also closed a $2.6 billion revolving credit facility with a five-year maturity, it said.

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