Sept. 11, 2012
/PRNewswire/ -- Jarden Corporation (NYSE: JAH) (the "
") today announced that it intends, subject to market and other conditions, to offer
in aggregate principal amount of Senior Subordinated
Convertible Notes due 2018 (the "
") in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "
"). The interest rate, initial conversion price, repurchase provisions and other terms of the Convertible Notes will be determined by negotiations between the Company and the initial purchasers. In connection with this offering, the Company expects to grant to the initial purchasers an option to purchase up to an additional
in aggregate principal amount of the Convertible Notes.
September 11, 2012
, the Company's Board of Directors authorized an increase to the Company's stock repurchase program to allow for the repurchase of up to
in aggregate of the Company's common stock.
The Company intends to use up to
of the net proceeds from the sale of the Convertible Notes to repurchase shares of its common stock under its stock repurchase program through negotiated transactions with investors in the Convertible Notes offering, subject to availability. The Company intends to use the remaining net proceeds for general corporate purposes.
This press release is neither an offer to sell nor a solicitation of an offer to buy the Convertible Notes or the shares of common stock issuable upon conversion of the Convertible Notes, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.