SCHAFFHAUSEN, Switzerland, July 28, 2014 /PRNewswire/ -- TE
Connectivity Ltd. (NYSE: TEL) ("TE Connectivity") today announced
that its wholly-owned subsidiary, Tyco Electronics Group S.A.
("TEGSA"), has priced an offering of:
- $500 million aggregate
principal amount of its floating rate senior notes due
2016;
- $250 million aggregate
principal amount of its 2.350% senior notes due 2019;
and
- $250 million aggregate
principal amount of its 3.450% senior notes due 2024.
The offer is being made pursuant to an effective
registration statement filed by TE Connectivity and TEGSA on
December 9, 2013.
The $500 million floating
rate senior notes due 2016 will be issued at par and will bear
interest at a rate of three-month LIBOR plus 20 basis points per
year, payable quarterly. The $250
million senior notes due 2019 will be issued at a price of
99.948% and will have a stated interest rate of 2.350% per year,
payable semi-annually. The $250
million senior notes due 2024 will be issued at a price of
99.614% and will have a stated interest rate of 3.450% per year,
payable semi-annually.
TE Connectivity intends to use the net proceeds of this
offering for general corporate purposes, including to fund a
portion of the purchase price of TE Connectivity's previously
announced acquisition of Measurement Specialties, Inc.
Citigroup Global Markets Inc., J.P. Morgan Securities LLC,
BNP Paribas Securities Corp., Deutsche Bank Securities Inc. and
Merrill Lynch, Pierce, Fenner & Smith Incorporated are joint
book-running managers for this offering, which is expected to close
on July 31, 2014.
A copy of the prospectus for the offering can be obtained
from Citigroup Global Markets Inc., c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by calling (800)
831-9146, or by emailing prospectus@citi.com or from J.P. Morgan
Securities LLC, 383 Madison Avenue, New
York, New York 10179, Attention: Investment Grade Syndicate
Desk, 3rd Floor, or by calling collect at (212)
834-4533.
This announcement does not constitute an offer to sell or
the solicitation of offers to buy any security and shall not
constitute an offer, solicitation, or sale of any security in any
jurisdiction in which such offer, solicitation, or sale would be
unlawful.
FORWARD-LOOKING STATEMENTS
This press release contains certain "forward-looking
statements" within the meaning of the U.S. 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, financial condition or achievements to differ
materially from anticipated results, performance, financial
condition 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. We have no intention and are under no obligation to
update or alter (and expressly disclaim any such intention or
obligation to do so) our forward-looking statements whether as a
result of new information, future events or otherwise, except to
the extent required by law. The forward-looking statements in this
release include statements addressing our future financial
condition and operating results. Examples of factors that could
cause actual results to differ materially from those described in
the forward-looking statements include, among others, business,
economic, competitive and regulatory risks, such as conditions
affecting demand for products, particularly in the automotive
industry and the telecommunications networks and consumer devices
industries; competition and pricing pressure; fluctuations in
foreign currency exchange rates and commodity prices; natural
disasters and political, economic and military instability in
countries in which we operate; developments in the credit markets;
future goodwill impairment; compliance with current and future
environmental and other laws and regulations; the possible effects
on us of changes in tax laws, tax treaties and other legislation;
the risk that the acquisition of Measurement Specialties, Inc.
("MEAS") may not be consummated; the risk that a regulatory
approval that may be required for the MEAS acquisition is not
obtained or is obtained subject to conditions that are not
anticipated; the risk that revenue opportunities, cost savings and
other anticipated synergies from the MEAS acquisition may not be
fully realized or may take longer to realize than expected; and the
risk that MEAS' operations will not be successfully integrated into
ours. More detailed information about these and other factors is
set forth in TE Connectivity Ltd.'s Annual Report on Form 10-K for
the fiscal year ended Sept. 27, 2013
as well as in our Quarterly Reports on Form 10-Q, Current Reports
on Form 8-K and other reports filed by us with the U.S. Securities
and Exchange Commission.
ABOUT TE CONNECTIVITY
TE Connectivity (NYSE: TEL) is a $13 billion world leader in connectivity. The
company designs and manufactures products at the heart of
electronic connections for the world's leading industries including
automotive, energy and industrial, broadband communications,
consumer devices, healthcare, and aerospace and defense. TE
Connectivity's long-standing commitment to innovation and
engineering excellence helps its customers solve the need for more
energy efficiency, always-on communications and ever-increasing
productivity. With nearly 90,000 employees in over 50 countries, TE
Connectivity makes connections the world relies on to work
flawlessly every day.
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SOURCE TE Connectivity Ltd.