Cooper Cameron to Sell $200 Million of Convertible Securities
May 04 2004 - 5:47PM
PR Newswire (US)
Cooper Cameron to Sell $200 Million of Convertible Securities
HOUSTON, May 4 /PRNewswire-FirstCall/ -- Cooper Cameron Corporation
plans to offer $200 million of convertible debentures due 2024. The
offering will be made by means of a private placement pursuant to
Rule 144A under the Securities Act of 1933. The initial purchasers
will have the option to purchase within 30 days from the date of
issuance up to an additional $20 million principal amount of the
debentures. The debentures will be convertible into shares of
Cooper Cameron Corporation common stock under certain circumstances
at a price to be determined during the marketing period. Cooper
Cameron plans to use the net proceeds from this offering: i) to
purchase any of our outstanding 1.75% Convertible Senior Debentures
that are tendered to us in a previously announced tender offer, ii)
to purchase up to $50 million of outstanding shares of our common
stock concurrently with the sale of the debentures and iii) for
general corporate purposes. This press release does not constitute
an offer to sell or the solicitation of an offer to buy, nor shall
there be any sale of these securities in any state in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state. The
debentures are to be offered or sold only to qualified
institutional buyers pursuant to Rule 144A under the Securities Act
of 1933. The debentures to be offered have not been registered
under the Securities Act. Cooper Cameron Corporation is a leading
international manufacturer of oil and gas pressure control
equipment, including valves, wellheads, controls, chokes, blowout
preventers and assembled systems for oil and gas drilling,
production and transmission used in onshore, offshore and subsea
applications, and provides oil and gas separation equipment. Cooper
Cameron is also a leading manufacturer of centrifugal air
compressors, integral and separable gas compressors and
turbochargers. Website: http://www.coopercameron.com/
http://www.newscom.com/cgi-bin/prnh/20010706/CAMLOGO
http://photoarchive.ap.org/ DATASOURCE: Cooper Cameron Corporation
CONTACT: R. Scott Amann, Vice President, Investor Relations of
Cooper Cameron Corporation, +1-713-513-3344 Web site:
http://www.coopercameron.com/
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