HOUSTON, May 17, 2011 /PRNewswire/ -- Cameron (NYSE: CAM)
is notifying holders of its 2.50% Convertible Senior Notes due 2026
(CUSIP Nos. 13342BAA3 and 13342BAB1) (the "Notes") that they have
an option, pursuant to the terms of the Notes, to require Cameron
to purchase, on June 15, 2011, all or
a portion of such holders' Notes (the "Put Option") at a cash price
equal to $1,000 per $1,000 principal amount of the Notes, plus any
accrued and unpaid interest. If all outstanding Notes are
surrendered for purchase the aggregate repurchase price will be
approximately $371,769,000.
The opportunity to exercise the Put Option will commence on
May 17, 2011 and will terminate at
midnight, New York City time, on
June 14, 2011. Holders may
withdraw any previously tendered Notes pursuant to the terms of the
Put Option at any time prior to midnight, New York City time, on June 14, 2011.
As required by rules of the Securities and Exchange Commission,
Cameron will file a Tender Offer Statement on Schedule TO later
today. In addition, Cameron's company notice to holders (a
copy of which will be attached as an exhibit to such Schedule TO)
with respect to the Put Option specifying the terms, conditions and
procedures for exercising the Put Option will be available through
The Depository Trust Company and the paying agent, which is U.S.
Bank National Association.
This press release is for informational purposes only and is not
an offer to purchase, or the solicitation of an offer to purchase,
the Notes.
Cameron (NYSE: CAM) is a leading provider of flow equipment
products, systems and services to worldwide oil, gas and process
industries.
Website: www.c-a-m.com
SOURCE Cameron