RNS Number:7186Q
Pall Corporation
11 September 2000


For More Information Contact:
John Adamovich, Pall Corporation
(516) 484-5400


         Pall Corporation Completes $300 Million Financing Package

East Hills, NY (08/31/2000) - - Pall Corporation (NYSE: PLL) today reported that
it has closed on two loan transactions. The first transaction involved the
private placement of $100 million of fixed rate unsecured senior notes due in
2010. The second transaction involved a $200 million unsecured revolving credit
facility due in 2005; borrowings under this facility bear interest at a floating
rate based upon LIBOR. The transactions were arranged by Wachovia Securities,
Inc. and Fleet Bank, National Association, respectively. 

Eric Krasnoff, Pall's Chairman and Chief Executive Officer, said "These
transactions leverage our strong balance sheet to enhance operational
flexibility and minimize the risk of interest rate fluctuations. I am delighted
at the speed with which these two financing transactions were completed. The
enthusiastic participation of the insurance and banking communities in these
transactions reflects well on the confidence the financial community places in
the Pall brand name and the Company's long-term A credit rating."

Treasurer and Chief Financial Officer, John Adamovich, added "The transactions
accomplished a number of financial objectives. We repositioned a substantial
portion of our short-term borrowings as long-term debt, thereby strengthening
our already sound balance sheet by increasing our working capital and tiering
the maturities of our debt structure. Additionally, we eliminated the interest
rate risks posed to our income statement in a volatile rate environment for the
portion of our debt that is at a fixed rate of interest. Moreover, our total
immediately available credit facilities have increased by $70 million."

In accordance with generally accepted accounting principles, approximately
$170.2 million of existing short-term indebtedness at July 29, 2000 refinanced
pursuant to these transactions will be classified as a long-term liability in
the Company's fiscal year-end consolidated balance sheet. 

Pall is the broadest-based filtration, separations and purification company in
the world and serves more markets with more proprietary products than any other
company in the $18 billion filtration industry. With annual sales of over $1
billion, Pall Corporation is based in East Hills, New York, USA and operates
directly in 30 countries. The Company provides innovative solutions to complex
filtration and separations problems in four major markets: Medical,
BioPharmaceuticals, Aeropower and Fluid Processing. The Company's shares are
listed on the New York Stock Exchange (PLL). Further information is available on
the Company's web site at http://www.pall.com.
Equatorial Palm Oil (LSE:PAL)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more Equatorial Palm Oil Charts.
Equatorial Palm Oil (LSE:PAL)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Equatorial Palm Oil Charts.