HOUSTON, May 25, 2011 /PRNewswire/ -- Cameron (NYSE: CAM)
has priced a public offering of $250
million aggregate principal amount of 4.50% senior notes due
2021, $250 million aggregate
principal amount of 5.95% senior notes due 2041 and $250 million of floating rate notes priced at 3
Mo. LIBOR + 0.93%, due 2014. The sale of the senior notes is
expected to settle on June 2, 2011,
subject to customary closing conditions. Cameron intends to
use the net proceeds from the offering to purchase or redeem the
Company's 2.50% Convertible Senior Notes due 2026 and for general
corporate purposes.
J.P. Morgan Securities LLC, Morgan Stanley & Co.
Incorporated, Citigroup Global Markets Inc., Credit-Suisse
Securities (USA) LLC, and RBS
Securities Inc. are acting as book runners for the senior notes
offering. In addition, Banco Bilbao Vizcaya Argentaria, S.A.,
Standard Chartered Bank and UBS Securities LLC, are acting as
Senior Co-Managers. Copies of the prospectus supplement and
the related base prospectus for the offering may be obtained by
contacting J.P. Morgan Securities LLC at 383 Madison Ave., 3rd
Floor, New York, New York 10179,
Attention: High Grade Syndicate Desk, (212) 834-4533; or Morgan
Stanley & Co. Incorporated at 180 Varick Street, New York, New York 10014, Attention:
Prospectus Department, or toll-free at (866) 718-1649. An
electronic copy of the prospectus supplement and the related base
prospectus will also be available on the website of the Securities
and Exchange Commission (the "SEC") at www.sec.gov.
This offering is made pursuant to an effective shelf
registration statement and prospectus filed by Cameron with the
SEC. This release does not constitute an offer to sell or the
solicitation of an offer to buy, nor will there be any sale of
these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such jurisdiction. This
offering may be made only by means of a prospectus supplement and
related base prospectus.
Cameron (NYSE: CAM) is a leading provider of flow equipment
products, systems and services to worldwide oil, gas and process
industries.
This release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Act of 1934, including the expected
consummation of the offering described and the use of proceeds.
Forward-looking statements include estimates and give our
current expectations or forecasts of future events. Although
we believe our forward-looking statements are reasonable, they can
be affected by inaccurate assumptions or by known or unknown risks
and uncertainties, and actual results may differ from the
expectations expressed.
SOURCE Cameron