Speculating in Takeover Targets Message Board

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Strategies & Market Trends : Speculating in Takeover Targets

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To: richardred who wrote (6)	7/7/2003 7:20:27 PM
From: richardred	Read Replies (2) of 7253

HAMILTON, Bermuda--(BUSINESS WIRE)--July 7, 2003--Ingersoll-Rand Company Limited (NYSE: IR), a leading diversified industrial firm, announced today that it has renewed its 364-day line of credit at $750 million. The transaction was strongly oversubscribed with bank commitments of over $1.1 billion received by the company. This line of credit, in addition to a $1.25 billion agreement scheduled to mature in 2006, supports the company's commercial paper program and general corporate purposes. "We are extremely pleased with the recognition of our financial strength and the strong support of our growth strategies demonstrated by our existing and new relationship banks. We remain committed to concentrating our global banking business with these relationship banks," said Timothy R. McLevish, senior vice president and chief financial officer of IR.

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