To finance the acquisition and the payment of related obligations and to refinance existing debt, Tenaris and the subsidiary that will merge with and into Hydril have entered into syndicated term loan facilities in an aggregate principal amount of US$2.0 billion. Tenaris will consolidate Hydril's balance sheet and results of operations in its consolidated financial statements from May 7, 2007.
Tenaris is the leading global manufacturer and supplier of tubular products and related services for the world's oil and gas industry and other industrial applications. With Hydril, Tenaris will add an industry-leading supplier of high performance premium connection and pressure control products and services for the oil and gas industry.
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