June 23, 2009
Source: Tyco Electronics Ltd.
PEMBROKE, Bermuda, June 23 /PRNewswire-FirstCall/ -- Tyco Electronics Ltd. (NYSE: TEL) today announced that its wholly-owned subsidiary, Tyco Electronics Group S.A. ("TEGSA"), in connection with its previously announced cash tender offer, has increased the Late Tender Offer Consideration for its 6.000% Senior Notes due 2012, its 6.550% Senior Notes due 2017 and its 7.125% Senior Notes due 2037. The Late Tender Offer Consideration for each series, as increased, now equals the Full Tender Offer Consideration (as defined in the Offer to Purchase) for such series. The Late Tender Offer Consideration (as increased), the Maximum Tender Amount for each series of notes and the aggregate principal amount of each series of notes tendered as of 5:00 p.m., New York City time, on June 22, 2009 (the "Early Tender Date"), are set forth in the table below.
Principal Late Amount Tender Tendered Offer as of Consid- Principal Maximum Early eration CUSIP Title of Amount Tender Tender (per $1,000 Number Security Outstanding Amount Date tendered) 902133AE7 6.000% Senior Notes due 2012 $800,000,000 $150,000,000 $83,591,000 $980 902133AF4 6.550% Senior Notes due 2017 $750,000,000 $100,000,000 $41,738,000 $900 902133AG2 7.125% Senior Notes due 2037 $500,000,000 $100,000,000 $22,178,000 $800
Holders of notes that are validly tendered before 11:59 p.m., New York City time, on July 7, 2009 (the "Expiration Date") and accepted for payment will receive the Late Tender Offer Consideration. Holders of notes that are validly tendered and not withdrawn will receive accrued and unpaid interest on their purchased notes from the last interest payment date to, but not including, the date of payment for purchased notes.
If the principal amount of the notes tendered and not withdrawn for a series exceeds the Maximum Tender Amount for such series, the principal amount of notes of such series purchased will be prorated based on the total principal amount of such series that has been tendered. If any tendered notes are not accepted for payment, the notes will be returned without expense to the tendering holder. TEGSA reserves the right, subject to applicable law, to extend, withdraw or terminate the tender offer.
The tender offer is subject to, and conditioned upon, the satisfaction or waiver of the general conditions described in the Offer to Purchase (the "Offer to Purchase") and related letter of transmittal, each dated as of June 9, 2009. Except for the amendment to the Late Tender Offer Consideration described above, all other terms and conditions of the tender offer remain unchanged. Accordingly, withdrawal rights for tendering holders of the notes have expired. The settlement date in respect of notes validly tendered and not withdrawn and accepted for purchase is expected to occur on the second business day following the Expiration Date.
This release is neither an offer to purchase nor a solicitation of an offer to sell any notes. The tender offer is being made pursuant to the Offer to Purchase, as amended hereby, and the related letter of transmittal, copies of which have been delivered to all holders of the 6.000% Senior Notes due 2012, 6.550% Senior Notes due 2017 and 7.125% Senior Notes due 2037. Persons with questions regarding the tender offer should contact the dealer manager, J.P. Morgan Securities Inc., at (866) 834-4666 (toll free) or (212) 834-3424 (collect), or the Information Agent, Global Bondholder Services Corporation, at (866) 470-3900.
ABOUT TYCO ELECTRONICS
Tyco Electronics Ltd. is a leading global provider of engineered electronic components, network solutions, undersea telecommunication systems and specialty products, with fiscal 2008 sales of US$14.8* billion, to customers in more than 150 countries. We design, manufacture and market products for customers in a broad array of industries including automotive; data communication systems and consumer electronics; telecommunications; aerospace, defense and marine; medical; and alternative energy and lighting. With approximately 7,000 engineers and worldwide manufacturing, sales and customer service capabilities, Tyco Electronics' commitment is our customers' advantage. More information on Tyco Electronics can be found at http://www.tycoelectronics.com/. (* Includes revenue from the company's former Wireless Systems segment, which will be reported as a discontinued operation beginning in the fiscal third quarter of 2009.)
SOURCE: Tyco Electronics Ltd.
Web site: http://www.tycoelectronics.com/