This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Textron Inc. Announces Its 4.5% Convertible Senior Notes Due 2013 Convertible At Holder’s Discretion

Textron Inc. (NYSE: TXT) (“Textron”) announced today that its 4.5% Convertible Senior Notes due 2013 (CUSIP #883203BN0) (the “Notes”) will be convertible at the option of the holders through March 31, 2013, the last day of the first calendar quarter, as provided in the Indenture, dated as of September 10, 1999, between Textron and The Bank of New York Mellon Trust Company, N.A., as Trustee, as supplemented by the Supplemental Indenture, dated as of May 5, 2009 (the “Indenture”).

The Notes will be convertible because Textron’s common stock price exceeded the conversion threshold price of $17.06 per share (130 percent of the applicable conversion price of $13.125 per share) for at least 20 trading days during the 30 consecutive trading days ending December 31, 2012.

As a result, during the first calendar quarter, holders of the Notes may elect to convert some or all of their Notes. Pursuant to the terms of the Indenture, the Notes will remain convertible through April 29, 2013, the second trading day preceding their May 1, 2013 maturity date.

The Company may deliver shares of common stock, cash or a combination of cash and shares of common stock in satisfaction of its obligations upon conversion of the Notes.

Holders of Notes may obtain further information on how to convert their Notes by contacting the conversion agent at the following address:

Bank of New York Mellon Corporation Corporate Trust Operations Reorganization Unit 101 Barclay Street - 7 East New York, N.Y. 10286 Attn: Ms. Diane Amoroso

This press release is for informational purposes only and does not constitute an offer to buy or the solicitation of an offer to sell any Notes or Textron’s common stock.

About Textron

Textron is a multi-industry company that leverages its global network of aircraft, defense, industrial and finance businesses to provide customers with innovative solutions and services. Textron is known around the world for its powerful brands such as Bell Helicopter, Cessna Aircraft Company, Jacobsen, Kautex, Lycoming, E-Z-GO, Greenlee and Textron Systems. More information is available at

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs