U.S. diversified industrial manufacturer Eaton Corporation (EatonCorporation) today announced that it has completed the scale with up to $ 500 million revolving credit financing to replace will be September 1, 2011 due in the amount of $ 500 million financing agreement. It is reported that the new financing agreement will be June 16, 2016 expiration of a period of five years.

    It is understood, Õâ Æð up to $ 500 million revolving credit financing long-term commercial paper loans are revolving credit facility Eaton part of the activities will be used as the company totaled $ 1.5 billion in commercial paper borrowings guaranteed.

    At the same time, the company said it has completed the 2012 mid-term debts due in the first financing. According to the company, also issued $ 300 million floating rate notes. These floating rate notes will be June 16, 2014 maturity, and three-month U.S. dollar London interbank offered rate (LondonInterbankOfferedRate, referred to as LIBOR) plus 33 basis points of interest, interest is initially set at 0.575 percent. Eaton said that the current financing, to lower interest rates the company completed a July 2012 expiration of the first $ 300 million bond financing (5.75%).

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