MEMPHIS, Tenn.--(Business Wire)--
Thomas & Betts Corporation (NYSE:TNB), a leading designer and manufacturer of
electrical components used in industrial, construction, communications and
utility markets, announced today that it intends to offer and sell $250 million
aggregate principal amount of senior notes due 2021, subject to market and other
conditions. The offering will be by means of an underwritten public offering
pursuant to a universal shelf registration filed with the Securities and
Exchange Commission (SEC). Thomas & Betts intends to use the net proceeds from
the offering to refinance $125 million of 7.25 percent unsecured notes due 2013,
repay up to $95 million of outstanding indebtedness under the company`s senior
credit facility and for general corporate purposes.
BofA Merrill Lynch, J.P. Morgan and Wells Fargo Securities are acting as joint
book-running managers. The offering may be made only by means of a prospectus
and related prospectus supplement which will be filed with the SEC. Interested
parties can find the prospectus supplement online by visiting EDGAR on the SEC
website at www.sec.gov or may obtain a copy from the joint book-running managers
by calling BofA Merrill Lynch at (800) 294-1322, J.P. Morgan at (212) 834-4533
or Wells Fargo Securities at (800) 326-5897.
A registration statement relating to the notes was filed with and declared
effective by the SEC on December 3, 2008 and is supplemented by the offering
materials noted above. 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 sales would be
unlawful prior to registration or qualification under the securities laws of any
state. The notes will be offered only by means of a prospectus, including the
prospectus supplement relating to the notes, meeting the requirement of Section
10 of the Securities Act of 1933, as amended.
CORPORATE OVERVIEW
Thomas & Betts Corporation (www.tnb.com) is a leading designer and manufacturer
of electrical components used in industrial, construction, communications and
utility markets. The company is also a leading producer of commercial heating
and ventilation units and highly engineered steel structures used, among other
things, for utility transmission. Headquartered in Memphis, Tenn., the company
has manufacturing, distribution and office facilities worldwide. In 2008, the
company reported $2.5 billion in net sales.
CAUTIONARY STATEMENT
This press release includes forward-looking statements that are identified by
terms such as "optimistic," "trend," "will," and "believe." These statements
discuss business strategies, economic outlook and future performance. These
forward-looking statements make assumptions regarding the company's operations,
business, economic and political environment, including, without limitation,
customer demand, government regulation, terrorist acts and acts of war.
Accordingly, these forward-looking statements are not guarantees of future
performance and involve risks and uncertainties. Actual results may be
materially different from any future results expressed or implied by such
forward-looking statements. Please see the "Risk Factors" section of the
company's Form 10-K for the fiscal year ended December 31, 2008 for further
information related to these uncertainties. The company undertakes no obligation
to publicly release any revisions to any forward-looking statements contained in
this press release to reflect events or circumstances occurring after the date
of this release or to reflect the occurrence of unanticipated events.
Thomas & Betts - Investor Relations
Tricia Bergeron, 901-252-8266
tricia.bergeron@tnb.com
Copyright Business Wire 2009
