This Day On The Street
Continue to site
ADVERTISEMENT
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

TE Connectivity Announces Redemption Of Senior Notes





SCHAFFHAUSEN, Switzerland, Oct. 18, 2013 /PRNewswire/ -- TE Connectivity Ltd. (NYSE: TEL) today announced that its wholly owned subsidiary, Tyco Electronics Group S.A. ("TEGSA"), has called for redemption all of its outstanding 5.95% Senior Notes due 2014 (the "Notes").

(Logo: http://photos.prnewswire.com/prnh/20110310/PH62357LOGO )

The redemption date will be November 18, 2013. The redemption price for the Notes will be equal to the greater of (i) 100% of the principal amount of the Notes to be redeemed and (ii) the sum of the present values of the remaining scheduled payments on the Notes, discounted to the redemption date using a defined treasury rate plus 45 basis points (0.45%), and will be determined as of November 13, 2013. Accrued and unpaid interest will be paid to the redemption date. As of October 17, 2013, $300,000,000 aggregate principal amount of Notes remain outstanding.

A notice of redemption was sent to the holders of the Notes today. Holders owning Notes through a broker, bank or other nominee should contact that party for information. 

This news release is for informational purposes and does not constitute a notice of redemption under the optional redemption provisions of the Notes or the indenture governing the Notes, nor does it constitute the solicitation of an offer to buy any securities of TE Connectivity or TEGSA, or a solicitation of an offer to buy securities in any state or jurisdiction where prohibited by law. Additional information concerning the terms and conditions of the redemption is contained in the notice of redemption distributed to holders of the Notes.

ABOUT TE CONNECTIVITY

TE Connectivity (NYSE: TEL) is a $13 billion world leader in connectivity. The company designs and manufactures products at the heart of electronic connections for the world's leading industries including automotive, energy and industrial, broadband communications, consumer devices, healthcare, and aerospace and defense. TE Connectivity's long-standing commitment to innovation and engineering excellence helps its customers solve the need for more energy efficiency, always-on communications and ever-increasing productivity. With nearly 90,000 employees in over 50 countries, TE Connectivity makes connections the world relies on to work flawlessly every day. To connect with the company, visit:  www.TE.com.

FORWARD-LOOKING STATEMENTS

This release contains certain "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are subject to risks, uncertainty and changes in circumstances, which may cause actual results, performance, financial condition or achievements to differ materially from anticipated results, performance, financial condition or achievements. All statements contained herein that are not clearly historical in nature are forward-looking and the words "anticipate," "believe," "expect," "estimate," "plan," and similar expressions are generally intended to identify forward-looking statements. A description of risks and uncertainties can be found in our most recent Annual Report on Form 10-K and in our other reports filed with the U.S. Securities and Exchange Commission. We have no intention and are under no obligation to update or alter (and expressly disclaim any such intention or obligation to do so) our forward-looking statements whether as a result of new information, future events or otherwise, except to the extent required by law.

SOURCE TE Connectivity Ltd.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,050.68 -29.46 -0.16%
S&P 500 2,114.36 -3.33 -0.16%
NASDAQ 5,074.0630 -18.0220 -0.35%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs