28 July 2009 - IMI plc announces $175m US loan note Issue

IMI announces that it has raised $175 million (GBP 107m) in the US private placement market. The fundraising attracted interest both from existing note holders and from new investors, and was 2.5 times over subscribed. The notes issued consisted of two tranches with $75m being taken with a 7 year maturity and $100m at a 10 year maturity.

The funds will be used to refinance $65m of US notes maturing later this year with the balance being used to reduce existing bank debt – freeing up additional banking facilities to maintain our considerable funding headroom.

RBS and HSBC acted as joint placement agents on this deal.

- Ends -

Enquiries:

Weber Shandwick Financial
Nick Oborne / Stephanie Badjonat
Tel: 020 7067 0700

Notes to editors

IMI is a dynamic, worldwide company delivering innovative engineering solutions to leading global customers in clearly defined niche markets. Its five businesses share a common goal - to convert their industry knowledge and market insight into customised, design-engineered solutions which create customer advantage and value. These include severe service valves, motion and fluid control systems, indoor climate controls, beverage dispense systems, and merchandising display systems for retail operations.

Close customer relationships, strong positions in growing markets and clear differentiation through technological innovation or service are the defining characteristics of all IMI businesses.

IMI is quoted on the London Stock Exchange. Information about IMI plc can be found on the website: www.imiplc.com

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