New Issue-Parker Hannifin sells $775 mln in 2-pt deal

May 13 (Reuters) - Diversified manufacturer Parker
Hannifin Corp (PH.N: Quote, Profile, Research, Stock Buzz) on Tuesday sold $775 million in a two-part
debt sale, said market sources.

The size of the deal was increased from the originally
planned $600 million.

Banc of America Securities, Goldman Sachs and Morgan
Stanley were the joint bookrunning managers for the sale.
BORROWER: PARKER HANNIFIN CORPORATION
FIRST TRANCHE:
AMT $450 MLN COUPON 5.50 PCT MATURITY 5/15/2018
TYPE SR NOTES ISS PRICE 99.765 FIRST PAY 11/15/2008
MOODY'S A2 YIELD 5.531 PCT SETTLEMENT 5/16/2008
S&P SINGLE-A SPREAD 165 BPS PAY FREQ SEMI-ANNUAL
FITCH SINGLE-A MORE THAN TREAS CALLABLE N/A
SECOND TRANCHE:
AMT $325 MLN COUPON 6.25 PCT MATURITY 5/15/2038
TYPE SR BONDS ISS PRICE 99.946 FIRST PAY 11/15/2008
MOODY'S A2 YIELD 6.254 PCT SETTLEMENT 5/16/2008
S&P SINGLE-A SPREAD 165 BPS PAY FREQ SEMI-ANNUAL
FITCH SINGLE-A MORE THAN TREAS CALLABLE N/A