TYI Tyco Intl.

RNS Number:9512F
Tyco International Ld
08 January 2003

FOR IMMEDIATE RELEASE


TYCO ANNOUNCES EXERCISE OF OPTION TO BUY ADDITIONAL $750 MILLION OF CONVERTIBLE
                                   DEBENTURES


Pembroke, Bermuda - January 8, 2003 - Tyco International Ltd. (NYSE - TYC, BSX -
TYC, LSE - TYI) today announced that the initial purchasers of its announced
private placement of $2.5 billion principal amount of 2.75% Series A Convertible
Senior Debentures due 2018 and $1.25 billion principal amount of 3.125% Series B
Convertible Senior Debentures due 2023 through its wholly-owned subsidiary, Tyco
International Group S.A., have exercised their option to buy up to an additional
20% of debentures in full, resulting in the sale of an additional $500 million
principal amount of 2.75% Series A Convertible Senior Debentures due 2018 and
$250 million principal amount of 3.125% Series B Convertible Senior Debentures
due 2023.  With the exercise of the option, the total size of the offering rises
to $4.5 billion.  The placement of all of the debentures is expected to close on
January 13, 2003.  Tyco intends to use the net proceeds to repay debt and for
general corporate purposes.

The debentures will be offered to qualified institutional buyers in reliance on
Rule 144A under the Securities Act of 1933.  The debentures will not be
registered under the Securities Act.  Unless so registered, the debentures may
not be offered or sold in the United States except pursuant to an exemption
from, or in a transaction not subject to, the registration requirements of the
Securities Act and applicable state securities laws.  This press release shall
not constitute an offer to sell or the solicitation of an offer to buy, nor
shall there be any sale of the debentures 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.


About Tyco International Ltd.


Tyco International Ltd. is a diversified manufacturing and service company.
Tyco operates in more than 100 countries and had fiscal 2002 revenues from
continuing operations of approximately $36 billion.


Forward-Looking Statements

This release may contain certain "forward-looking statements" within the meaning
of the United States Private Securities Litigation Reform Act of 1995. These
statements are based on management's current expectations and are subject to
risks, uncertainty and changes in circumstances, which may cause actual results,
performance or achievements to differ materially from anticipated results,
performance or achievements. All statements contained herein that are not
clearly historical in nature are forward-looking and the words "anticipate," 
"believe," "expect," "estimate," "plan," and similar expressions are generally
intended to identify forward-looking statements. The forward-looking statements
in this release include statements addressing the following subjects: future
financial condition and operating results.  Economic, business, competitive and/
or regulatory factors affecting Tyco's businesses are examples of factors, among
others, that could cause actual results to differ materially from those
described in the forward-looking statements.

More detailed information about these and other factors is set forth in Tyco's
Annual Report on Form 10-K for the fiscal year ended September 30, 2002. Tyco is
under no obligation to (and expressly disclaims any such obligation to) update
or alter its forward-looking statements whether as a result of new information,
future events or otherwise.

                                     # # #


Contact:    Gary Holmes (Media)
            212-424-1314

            Kathy Manning (Investors)
            603-778-9700


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

MSCBRGDBRUGGGXI

Tyco Intl. (LSE:TYI)
Historical Stock Chart
From Sep 2024 to Oct 2024

Tyco Intl. (LSE:TYI)
Historical Stock Chart
From Oct 2023 to Oct 2024