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
