May 7 (Reuters) - Reece Ltd REH.AX :
* BUYS MORSCO INC. FOR US$1.44BN
* TRANSACTION IS EXPECTED TO COMPLETE IN JULY 2018
* LAUNCHES A$560 MLN EQUITY RAISING
* FOLLOWING ACQUISITION, EXPECTS TO DELIVER MID-HIGH SINGLE DIGIT EPS ACCRETION IN FIRST FULL YEAR OF OWNERSHIP ON AN NPATA BASIS
* ACQUISITION EXPECTED TO BE MOSTLY FUNDED BY UNDERWRITTEN $1,140 MILLION 7‐YEAR SENIOR SECURED CREDIT FACILITY FROM US INSTITUTIONAL TERM LOAN MARKET
* EXPECTS FY18 SALES IN RANGE OF A$2,650-2,700 MILLION, EBITDA IN RANGE OF A$370-380 MILLION; NPAT GUIDANCE IS IN RANGE OF A$223-230 MILLION
* INTENDS TO OPERATE MORSCO SEPARATELY TO ITS BUSINESSES IN AUSTRALIA AND NEW ZEALAND
* TRANSACTION WILL BE FUNDED BY A COMBINATION OF DEBT AND NEW EQUITY