Welcome to our dedicated page for Gorman-Rupp Co news (Ticker: GRC), a resource for investors and traders seeking the latest updates and insights on Gorman-Rupp Co stock.
Gorman-Rupp Co (GRC) delivers essential pump system solutions for water management, industrial operations, and critical infrastructure projects worldwide. This news hub provides investors and industry professionals with comprehensive updates on corporate developments, technical innovations, and market positioning.
Access timely updates including earnings reports, product launches, strategic partnerships, and operational milestones. Our curated collection features press releases about fluid-handling advancements, manufacturing expansions, and sustainability initiatives that demonstrate GRC's engineering leadership.
Key content includes:
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• New pump system developments
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Bookmark this page for direct access to verified information about GRC's contributions to water infrastructure, construction technology, and industrial fluid management. Regularly updated to serve as your primary resource for understanding this pump manufacturer's evolving role in essential industries.
The Gorman-Rupp Company (NYSE: GRC) has completed a series of debt refinancing transactions aimed at reducing interest expenses and extending debt maturities. Key highlights include upsizing and extending the Senior Term Loan Facility to $370.0 million, extending the $100.0 million revolving Credit Facility, issuing $30.0 million in new Senior Secured Notes with a 6.40% interest rate due 2031, and retiring a $90.0 million unsecured Subordinated Credit Facility. The combined transactions are expected to reduce annual interest expenses by $7.0 million. However, the company will incur a $1.8 million prepayment fee and a $4.4 million non-cash charge for unamortized deferred transaction fees. The changes are part of the company's strategy to improve leverage following the acquisition of Fill-Rite in May 2022.
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