B/E Aerospace Announces Pricing of $650 Million of 6.875% Senior Notes
September 13 2010 - 5:10PM
Business Wire
B/E Aerospace (NASDAQ:BEAV) (the “Company”), announced today the
pricing of a public offering of $650 million aggregate principal
amount of 6.875% senior notes due 2020. The size of the offering
was increased from the previously announced $500 million to $650
million. The offering is being made under the Company’s shelf
registration statement filed with the Securities and Exchange
Commission and is expected to close on September 16, 2010.
The Company intends to use the net proceeds (before expenses)
from the offering of approximately $631.2 million to fund
acquisitions of businesses operating within, or complementary to,
its commercial aircraft and consumables management segments. The
Company is currently exploring or participating in discussions with
third parties regarding a number of possible acquisitions; however,
it presently has no definitive agreements related to any
acquisitions.
Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC
and UBS Securities LLC are joint book-running managers and RBS
Securities Inc., SunTrust Robinson Humphrey, Inc. and Wells Fargo
Securities, LLC are co-managers for the offering.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy the notes described herein, nor
shall there be any sale of these notes in any jurisdiction in which
such an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities law of any such
jurisdiction.
The offering is being made by means of a prospectus and the
related prospectus supplement only. Copies of the prospectus and
the related prospectus supplement can be obtained from Credit
Suisse Securities (USA) LLC, Attention: Prospectus Department, One
Madison Avenue, New York, New York 10010, (800) 221-1037, J.P.
Morgan Securities LLC, 383 Madison Avenue, New York, New York
10179, (800) 245-8812, and UBS Securities LLC, Attention:
Prospectus Department, 299 Park Avenue, New York, New York 10171,
(888) 827-7275.
This news release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
Such forward-looking statements involve risks and uncertainties.
The Company’s actual experience and results may differ materially
from the experience and results anticipated in such statements.
Factors that might cause such a difference include those discussed
in the Company’s filings with the Securities and Exchange
Commission, which include the Registration Statement, prospectus
and prospectus supplement related to this offering and its Proxy
Statement, Annual Report on Form 10-K, Quarterly Reports on Form
10-Q and Current Reports on Form 8-K. For more information, see the
section entitled "Forward-Looking Statements" contained in the
Company’s Annual Report on Form 10-K and in other filings. The
forward-looking statements included in this news release are made
only as of the date of this news release and, except as required by
federal securities laws, the Company does not intend to publicly
update or revise any forward-looking statements to reflect
subsequent events or circumstances.
About B/E Aerospace
B/E Aerospace is the world’s leading manufacturer of aircraft
cabin interior products and the world’s leading distributor of
aerospace fasteners and consumables. B/E Aerospace designs,
develops and manufactures a broad range of products for both
commercial aircraft and business jets. B/E Aerospace 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 approximately
50 percent of sales. B/E Aerospace sells and supports its products
through its own global direct sales and product support
organization.
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