ZURICH, June 1, 2012 /PRNewswire/ -- Thomas & Betts Corporation, an ABB (NYSE: ABB) subsidiary, today announced that its previously announced consent solicitation with respect to certain proposed amendments to the indenture governing its 5.625% senior unsecured bonds due 2021 expired at 5:00 p.m., New York City time, on May 31, 2012. As of that time, a sufficient number of validly delivered and duly executed consents had been received to approve the proposed amendments.
As part of the consent solicitation, Thomas & Betts will make a cash payment of $1.25 per $1,000 in principal amount of the bonds to holders who have validly delivered and duly executed consents.
Further to ABB's earlier announcement, ABB Ltd guaranteed the bonds.
ABB has retained BofA Merrill Lynch to act as the solicitation agent in connection with the consent solicitation. The full terms and conditions of the consent solicitation may be obtained from the solicitation agent, and any questions may be directed to the solicitation agent by telephone at +1 646 855-3401 (collect). ABB has retained Global Bondholder Services Corporation to act as the Tabulation and Information Agent. Questions and requests for additional documents may be directed to the Tabulation and Information Agent in writing at Global Bondholder Services Corporation, 65 Broadway – Suite 404, New York, NY 10006, Attention: Corporate Actions, by telephone at +1 212 430-3774 or +1 866 873-6300 (toll free) or by facsimile at +1 212 430-3775/3779.SOURCE ABB
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV