Grainger to borrow up to $500 million

Industrial Distribution staff -- Industrial Distribution, 4/7/2008 9:39:00 AM

The Lake Forest, Ill.-based broad-line MRO distributor said the final amount of the loan, expected to close May 1, will depend on conditions in the financial market.

"We believe a modest level of intermediate to long-term debt is in the best interest of our shareholders," senior vice president and CFO Ron Jadin said. "Grainger will continue to maintain a financial position that provides us operational flexibility and best supports us for profitable growth."