B/E Aerospace (Nasdaq: BEAV) (the “Company”), announced today the successful closing of its public offering of $800.0 million aggregate principal amount of its 5.25% senior notes due 2022, priced to yield 4.934%. The size of the offering was increased from the previously announced $675.0 million to $800.0 million. The senior notes were issued at an offering price of 102.00%, plus accrued and unpaid interest from March 13, 2012. The senior notes were offered pursuant to a prospectus supplement and an accompanying prospectus filed by the Company as part of a shelf registration statement filed with the Securities and Exchange Commission (the “SEC”).
The senior notes are an additional issuance of, are fully fungible with, rank equally with, and form a single series with the Company’s $500.0 million 5.25% Senior Notes due 2022 issued on March 13, 2012, and have the same CUSIP number.
The Company intends to use the net proceeds of the offering to fund the consideration in its concurrent tender offer and consent solicitation for any and all of its outstanding 8.50% Senior Notes due 2018, including the payment of accrued interest and any applicable consent payment. The Company intends to use the remaining net proceeds from this offering for other general corporate purposes, including potential acquisitions.
J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Goldman, Sachs & Co. and UBS Securities LLC are acting as joint book-running managers and RBC Capital Markets, LLC and Wells Fargo Securities, LLC are acting as co-managers for the offering.
This news release does not constitute an offer to sell, or a solicitation of an offer to buy, the notes described herein, nor shall there be any sale of these notes in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of any such jurisdiction.