Ethan Allen Completes $200 Million Senior Notes Offering
September 28 2005 - 10:00AM
Business Wire
Ethan Allen Interiors Inc. (NYSE:ETH) ("Ethan Allen" or the
"Company") today announced the closing of a private offering of
ten-year senior notes due 2015. The senior notes, which have been
offered by Ethan Allen Global, Inc., a wholly-owned subsidiary of
Ethan Allen, have an annual coupon rate of 5.375% with the first
semi-annual interest payment due on April 1, 2006. The Company
intends to use the net proceeds from this offering to expand its
retail network, invest in its manufacturing and logistics
operations, and for other general corporate purposes. The senior
notes have not been, and will not be, registered under the
Securities Act of 1933 (the "Securities Act"), as amended, and may
not be offered or sold in the United States absent such
registration or an applicable exemption from the registration
requirements of the Securities Act. This press release shall not
constitute an offer to sell or a solicitation of an offer to buy,
nor shall there be any sale of, the senior notes 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. This press release contains forward-looking statements as
defined in the Private Securities Litigation Reform Act of 1995.
These forward- looking statements are subject to various
assumptions, risks and uncertainties, and accordingly, actual
results may differ materially from those contemplated by the
forward-looking statements. Various risks and uncertainties include
but are not limited to: the effects of terrorist attacks or
conflicts or wars involving the United States or its allies or
trading partners; the effects of labor strikes; weather conditions
that may affect sales; volatility in fuel, utility, transportation
and security costs; changes in global or regional political or
economic conditions, including changes in governmental and central
bank policies; changes in business conditions in the furniture
industry, including changes in consumer spending patterns and
demand for home furnishings; effects of our brand awareness and
marketing programs, including changes in demand for our products
and acceptance of our new products; our ability to locate new store
sites or negotiate favorable lease terms for additional stores or
for expansion of existing stores; competitive factors, including
changes in the products or marketing efforts of others; pricing
pressures; fluctuations in interest rates and the cost,
availability and quality of raw materials; those matters discussed
in our SEC filings; and future decisions by us. The Company has no
obligation to publicly update any forward-looking statements at any
time for any reason.
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