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Barnes Group Inc. Announces New Revolving Credit Agreement

Dépèche transmise le 27 septembre 2011 par Business Wire

BRISTOL, Conn.--(BUSINESS WIRE)--Barnes Group Inc. (NYSE: B) today announced that it has entered into a new five-year, $500,000,000 senior unsecured revolving credit agreement. This new financing agreement replaces the Company’s existing $400,000,000 facility that was to expire in September 2012. Bank of America, N.A. is the Administrative Agent for the 15 lenders participating in the new 5-year facility. The facility will be used for working capital, capital expenditures and other corporate purposes.

“Our ability to attract a large syndicate of banks and enhance financial flexibility by increasing the size of the credit facility are clear indicators of Barnes Group’s financial strength”

“Our ability to attract a large syndicate of banks and enhance financial flexibility by increasing the size of the credit facility are clear indicators of Barnes Group’s financial strength,” said Christopher J. Stephens, Jr., Senior Vice President, Finance and Chief Financial Officer of Barnes Group.

About Barnes Group Inc.

Founded in 1857, Barnes Group Inc. (NYSE:B) is a diversified global manufacturer and logistical services company focused on providing precision component manufacturing and operating service support. The Barnes Group’s more than 4,800 dedicated employees, at more than 60 locations worldwide, are committed to achieving consistent and sustainable profitable growth. For more information, visit www.BGInc.com. Barnes Group, the Critical Components People.

Forward-Looking Statements

This release may contain certain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are made based upon management's good faith expectations and beliefs concerning future developments and their potential effect upon the Company and can be identified by the use of words such as "anticipated," "believe," "expect," "plans," "strategy," "estimate," "project," and other words of similar meaning in connection with a discussion of future operating or financial performance. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those expressed in the forward-looking statements. The risks and uncertainties, which are described in our periodic filings with the Securities and Exchange Commission, include, among others, uncertainties arising from the current or worsening disruptions in financial markets; future financial performance of the industries or customers that we serve; changes in market demand for our products and services; integration of acquired businesses; restructuring costs or savings; the impact of any future strategic actions, including acquisitions, joint ventures, divestitures, restructurings, or strategic business realignments, and our ability to achieve the financial and operational targets set in connection with any such actions; introduction or development of new products or transfer of work; changes in raw material or product prices and availability; foreign currency exposure; our dependence upon revenues and earnings from a small number of significant customers; a major loss of customers; the outcome of pending and future claims or litigation or governmental, regulatory proceedings, investigations, inquiries, and audits; uninsured claims and litigation; outcome of contingencies; future repurchases of common stock; future levels of indebtedness; and numerous other matters of global, regional or national scale, including those of a political, economic, business, competitive, environmental, regulatory and public health nature. The Company assumes no obligation to update our forward-looking statements.