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 www.textron.com.
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 + 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