B/E Aerospace Announces Pricing for Cash Tender Offer and Consent Solicitation for 8 1/2% Senior Notes Due 2010
July 21 2006 - 4:46PM
Business Wire
B/E Aerospace, Inc. (the "Company") (Nasdaq:BEAV) today announced
the consideration to be paid in connection with its cash tender
offer and consent solicitation for any and all of its outstanding
$175.0 million aggregate principal amount of its 8 1/2% Senior
Notes due 2010 (the "Notes"). The consideration to be paid for each
Note validly tendered and not validly withdrawn on or prior to 5:00
p.m. New York City time on July 21, 2006 was based on a fixed
spread of 50 basis points over the yield at 2:00 p.m. New York City
time on July 21, 2006 of the 4.00% U.S. Treasury Note due September
30, 2007 and is $1,071.41 per $1,000 principal amount of Notes,
assuming a July 26, 2006 payment date, which includes a consent
payment of $20 per $1,000 principal amount of Notes. The
consideration to be paid for each Note validly tendered and not
validly withdrawn after 5:00 p.m. New York City time on July 21,
2006 but on or prior to 5:00 p.m. New York City time on August 7,
2006 is $1,051.41 per $1,000 principal amount of Notes, assuming an
August 8, 2006 payment date, which will exclude any consent
payment. The consent solicitation is scheduled to expire at 5:00
p.m. New York City time on July 21, 2006, unless extended or
earlier terminated. The tender offer is scheduled to expire at 5:00
p.m. New York City time on August 7, 2006, unless extended or
earlier terminated. The Company has retained UBS Securities LLC,
Credit Suisse Securities (USA) LLC and J.P. Morgan Securities Inc.
to serve as Dealer Managers, and Global Bondholder Services
Corporation to serve as Depositary and Information Agent. Persons
with questions regarding the tender offer and consent solicitation
should contact UBS Securities LLC toll free at (888) 722-9555 ext.
4210 and collect at (203) 719-4210, Credit Suisse Securities (USA)
LLC toll free at (800) 820-1653 and collect at (212) 325-7596, and
J.P. Morgan Securities Inc. collect at (212) 270-7407, or Global
Bondholder Services Corporation at (866) 804-2200. Requests for
documentation should be directed to Global Bondholder Services
Corporation at (866) 804-2200. This announcement is for information
purposes only and constitutes neither an offer to purchase nor a
solicitation of an offer to sell the Notes. The tender offer and
consent solicitation will be made only pursuant to the Offer to
Purchase and Consent Solicitation Statement dated July 10, 2006 and
related materials. About B/E Aerospace, Inc. B/E Aerospace, Inc. is
the world's leading manufacturer of aircraft cabin interior
products, and a leading aftermarket distributor of aerospace
fasteners. B/E designs, develops and manufactures a broad range of
products for both commercial aircraft and business jets. B/E
manufactured products include aircraft cabin seating, lighting,
oxygen, and food and beverage preparation and storage equipment.
The company also provides cabin interior design, reconfiguration
and passenger-to-freighter conversion services. Products for the
existing aircraft fleet - the aftermarket - generate about 60
percent of sales. B/E sells and supports its products through its
own global direct sales and product support organization. For more
information, visit B/E's website at http://www.beaerospace.com.
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