UGS PLM Solutions, Inc. Announces Expected Offering of Debt Securities
April 29 2004 - 8:00AM
PR Newswire (US)
UGS PLM Solutions, Inc. Announces Expected Offering of Debt
Securities PLANO, Texas, April 29 /PRNewswire/ -- UGS PLM
Solutions, Inc. ("UGS" or "the Company") today announced that it
expects to commence an offering under Rule 144A and Regulation S of
$550 million aggregate principal amount of senior subordinated
notes due 2012. A portion of the senior subordinated notes will be
denominated in euros, with the remaining portion in U.S. dollars.
The senior subordinated notes would be general unsecured
obligations of the Company and would be subordinated to all
existing and future senior debt of the Company. The net proceeds of
the offering, together with amounts borrowed under a new senior
secured credit facility and the proceeds of a cash equity
investment by affiliates of Bain Capital, Silver Lake Partners and
Warburg Pincus (collectively, the "Sponsors"), are intended to be
used to finance the previously announced purchase of the Company by
BSW Holdings, Inc., an affiliate of the Sponsors, and the payment
of related fees and expenses. Subject to acceptable market and
interest rate conditions and other conditions, the Company
anticipates completing the offering in May 2004. Upon consummation
of the acquisition, the Company will change its brand to "UGS."
This announcement is neither an offer to sell nor a solicitation of
an offer to buy the securities described herein. The Company is
offering the notes in reliance upon an exemption from registration
under the Securities Act of 1933 for an offer and sale of
securities that does not involve a public offering. The securities
to be offered have not been and will not be registered under the
Securities Act of 1933 or any state securities laws and may not be
offered or sold in the United States absent registration or an
applicable exemption from registration requirements. The Company is
a leading global provider of product lifecycle management (PLM)
software and services that manufacturing organizations around the
world rely on to design, evaluate and launch new products. UGS'
software and services enable its customers to reduce development
and manufacturing costs, expedite time-to-market cycles and enhance
product quality and innovation. PLM software includes Computer
Aided Design (CAD), Computer Aided Engineering (CAE), and Computer
Aided Manufacturing (CAM) applications, which are collectively
referred to as CAx. These applications allow manufacturers to
transform initial product sketches into detailed digital
representations, which are then used to digitally simulate
performance and design required manufacturing processes. PLM also
encompasses Collaborative Product Development Management (cPDM)
applications that are used to manage CAx and other product related
data and to share and control that data in real-time throughout the
customer's organization and with external suppliers, designers and
engineers. CONTACT: John Clendening 972-797-9494 DATASOURCE: UGS
PLM Solutions, Inc. CONTACT: John Clendening of UGS PLM Solutions,
Inc., +1-972-797-9494, Web site: http://www.eds.com/
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