Mueller Water Products Announces Offering of Senior Subordinated Notes Due 2017
11 May 2007 - 10:49AM
PR Newswire (US)
ATLANTA, May 10 /PRNewswire-FirstCall/ -- Mueller Water Products,
Inc. (NYSE:MWANYSE:MWA.B) today announced that it intends to offer,
subject to market and other conditions, $350 million aggregate
principal amount of senior subordinated notes due 2017. The Company
intends to use the net proceeds from the offering of the notes,
together with cash on hand and borrowings under credit facilities,
to pay the purchase price for the 14-3/4% senior discount notes due
2014 and 10% senior subordinated notes due 2012 tendered by holders
and the consent payment relating to amendments to the underlying
indentures pursuant to its previously announced outstanding offers
to purchase and consent solicitations. The notes will be offered
only to qualified institutional buyers pursuant to Rule 144A under
the Securities Act of 1933, as amended (the "Securities Act"), and
outside the United States to non-U.S. persons pursuant to
Regulation S under the Securities Act. The notes have not been
registered under the Securities Act, or the securities laws of any
state or other jurisdiction, and may not be offered or sold in the
United States without registration or an applicable exemption from
the Securities Act. This release shall not constitute an offer to
sell or the solicitation of an offer to buy the notes.
Forward-Looking Statements Except for historical information
contained herein, the statements in this release are
forward-looking. Forward-looking statements involve known and
unknown risks and uncertainties that may cause the actual results
in future periods of the Company to differ materially from
forecasted results. Those risks include, among others, changes in
customers' demand for our products, changes in raw material
pricing, labor, equipment and transportation costs, changes in
customer orders, pricing actions by the Company's competitors,
changes in law, the inability to successfully integrate an acquired
business, and general changes in economic conditions. Risks
associated with forward- looking statements are more fully
described in our filings with the Securities and Exchange
Commission. The Company assumes no duty to update its forward-
looking statements as of any future date. About Mueller Water
Products Mueller Water Products is a leading North American
manufacturer and marketer of infrastructure and flow control
products for use in water distribution networks and treatment
facilities. Its broad product portfolio includes engineered valves,
hydrants, pipe fittings and ductile iron pipe, which are used by
municipalities, as well as the commercial and residential
construction, oil and gas, HVAC and fire protection industries.
With revenues of approximately $1.9 billion, the Company is
comprised of three main operating segments: Mueller Co., U.S. Pipe
and Anvil. Based in Atlanta, Georgia, the Company employs
approximately 6,600 people. Investor Contact: Martie Edmunds Zakas
Sr. Vice President - Strategic Planning & Investor Relations
770.206.4237 Media Contact: Katrina Blauvelt Director - Corporate
Communications & Public Affairs 770-206-4240 DATASOURCE:
Mueller Water Products, Inc. CONTACT: Martie Edmunds Zakas, Sr.
Vice President, Strategic Planning & Investor Relations,
+1-770-206-4237, or ; or Katrina Blauvelt, Director, Corporate
Communications & Public Affairs, +1-770-206- 4240, or Web site:
http://www.muellerwaterproducts.com/
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