MINNEAPOLIS--(BUSINESS WIRE)--Apr. 10, 2009--
Pentair, Inc. (NYSE:PNR) today announced that it has established the
redemption price for its 7.85% Senior Notes due October 15, 2009 (the
“Notes”), which Pentair has called for redemption (the "Redemption").
The redemption date is April 15, 2009 (the "Redemption Date").
The redemption price for each $1,000 principal amount of the Notes will
be $1,035.88. Pentair will also pay accrued and unpaid interest on the
Notes to, but not including, the Redemption Date. The make-whole premium
for the Notes was calculated in accordance with the terms of the
indenture governing the Notes.
The terms of the Redemption are described in the notice of redemption
mailed to registered holders of Notes on or about March 13, 2009 (the
“Notice”). Questions relating to, and requests for additional copies of,
the Notice should be directed to U.S. Bank National Association, as the
trustee at (800) 934-6802.
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
Any statements
made about the company’s anticipated financial results are
forward-looking statements subject to risks and uncertainties such as
the breadth and severity of the global economic downturn; the strength
of housing and related markets; the ability to integrate acquisitions
successfully and the risk that expected synergies may not be fully
realized or may take longer to realize than expected; foreign currency
effects; retail and industrial demand; product introductions; and
pricing and other competitive pressures, as well as other risk factors
set forth in our SEC filings. Forward-looking statements included herein
are made as of the date hereof, and the company undertakes no obligation
to update publicly such statements to reflect subsequent events or
circumstances. Actual results could differ materially from anticipated
results.
ABOUT PENTAIR, INC.
Pentair (www.pentair.com)
is a diversified operating company headquartered in Minneapolis,
Minnesota. Its Water Group is a global leader in providing innovative
products and systems used worldwide in the movement, treatment, storage
and enjoyment of water. Pentair’s Technical Products Group is a leader
in the global enclosures and thermal management markets, designing and
manufacturing thermal management products and standard, modified, and
custom enclosures that house and protect sensitive electronics and
electrical components. With 2008 revenues of $3.35 billion, Pentair
employs approximately 14,000 people worldwide.
Source: Pentair, Inc.
Pentair, Inc.
Investor Relations:
Todd Gleason,
763-656-5570
E-mail: todd.gleason@pentair.com