Ingersoll Rand Successfully Completes $3,300 Million Senior Unsecured Bond Offering and New $2,600 Million Senior Unsecured Revolving Credit Facility, Upgraded One Notch by All Three Rating Agencies

Ingersoll Rand Inc. (NYSE: IR) (the “Company” or “Ingersoll Rand”), a global provider of mission-critical flow creation and industrial solutions, announced today that the Company has successfully completed a series of transactions issuing Senior Unsecured Bonds and putting in place a new Senior Unsecured Revolving Credit Facility.

The Company raised $3,276 million in net proceeds from the bond offering, of which $1,236 million was used to repay the term loans under the existing senior secured credit facility in full as part of its replacement as described below, $2,000 million will be used to partially fund the cash consideration for the previously announced ILC Dover acquisition, and the remainder of the net proceeds will be used for general corporate purposes. The offering was split across 5 tranches (3-year, 5-year, 7-year, 10-year, and 30-year) and extends the weighted average maturity of the debt portfolio. The Company also put in place a new $2,600 million Senior Unsecured Revolving Credit Facility with a five-year maturity.

“The Senior Unsecured Bond offering and new Senior Unsecured Revolving Credit Facility complete our secured refinancing efforts and transform our debt portfolio to a fully unsecured investment grade profile,” said Vikram Kini, chief financial officer at Ingersoll Rand. “Investor enthusiasm for the transactions speaks to the investors’ conviction in the Company and confidence in the story and future outlook. The new revolving credit facility will bolster our liquidity and fortify an already very strong balance sheet.”

On May 6, 2024, Ingersoll Rand was upgraded one notch by all three rating agencies. The new ratings are BBB/BBB/Baa2 from S&P, Fitch, and Moody’s, respectively. The upgrade is in recognition of the consistent operating performance and restructuring of the capital structure to fully unsecured.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.