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Parker Hannifin completes $2 billion private offerings of Senior Notes

February 2017

Client(s) Parker Hannifin Corporation

Jones Day represented Parker Hannifin Corporation, a global leader in motion and control technologies, engineering innovative products and systems, in connection with its $2 billion private offerings of Senior Notes. The Notes consisted of $700 million aggregate principal amount of 3.250% Senior Notes due 2027, $600 million aggregate principal amount of 4.100% Senior Notes due 2047, and €700 million (US$739.3 million) aggregate principal amount of 1.125% Senior Notes due 2025.

Parker Hannifin intends to use all of the net proceeds from these offerings, together with (i) borrowings under its existing term loan agreement, (ii) borrowings under its existing revolving credit facility and/or commercial paper program and (iii) cash on hand, to finance its proposed acquisition of CLARCOR Inc., a diversified marketer and manufacturer of mobile, industrial, and environmental filtration products sold in domestic and international markets

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