FLS · Flowserve Corporation

Flowserve Corporation entered into an underwriting agreement on May 5, 2026, to issue $500 million aggregate principal amount of 5.700% Senior Notes due 2036. The offering is underwritten by BofA Securities, J.P. Morgan Securities, and Mizuho Securities USA LLC as representatives of the several underwriters. The notes are issued under an existing base indenture dated September 11, 2012, with a supplemental indenture to be dated May 12, 2026. The net proceeds are intended to fund the acquisition of the Trillium Flow Technologies Valves Division, with any remaining proceeds used for general corporate purposes, including potential debt repayment. If the acquisition is not consummated by February 4, 2027, or the purchase agreement is terminated, Flowserve must redeem all outstanding notes at 101% of principal plus accrued interest. The offering is expected to close on May 12, 2026, subject to customary conditions. This debt issuance provides committed financing for a strategic acquisition, with a built-in redemption mechanism if the acquisition fails, protecting investors.