Jabil tried to float these notes last fall, they are finally going to sell them next week. I would guess that the stock will fall shortly after they are sold to the low 20s, perhaps even lower than that.
Jabil Announces Sale of $300 Million of Convertible Subordinated Notes
ST. PETERSBURG, Fla., Apr 26, 2001 (BUSINESS WIRE) -- Jabil Circuit, Inc. (NYSE: JBL chart, msgs) announced today
that it intends to sell in a public offering $300 million aggregate principal amount of Convertible Subordinated Notes due
2021 ($345 million if an option for an additional $45 million is exercised in full by the underwriter). The offering is
pursuant to Jabil's effective universal shelf registration statement filed with the Securities and Exchange Commission. The
registration statement permits Jabil to publicly offer now and in the future up to $1.5 billion of debt and equity securities.
The Convertible Subordinated Notes are being purchased by Salomon Smith Barney, who is re-offering the securities to the
public.
The notes will be convertible into Jabil's common stock at the option of the holder, at a price of $41.038 per share,
subject to adjustment in certain circumstances. The offering is expected to close on May 2, 2001. The specific terms of
other securities that may be issued under the universal shelf registration statement will be determined at the time of each
issuance.
The net proceeds of the offering will be used for general corporate purposes and may be used to partially fund acquisitions.
A prospectus related to the offering may be obtained from Salomon Smith Barney, 388 Greenwich Street, 36th Floor, New
York, NY 10013.
Jabil Circuit, Inc. is an electronic manufacturing services provider for international electronics companies in the
communications, personal computer, peripheral, consumer and automotive markets. Jabil offers circuit design, board
design from schematic, prototype assembly, volume board assembly, system assembly, repair and warranty services from
facilities in North America, Europe, Asia and Latin America.
This press release contains certain forward-looking statements, which are subject to a number of risks and uncertainties.
The ultimate correctness of these forward-looking statements is dependent upon a number of known and unknown risks and
events, and is subject to various uncertainties and other factors that may cause our actual results, performance or
achievements to be different from any future results, performance or achievements expressed or implied by these
statements. For a list and description of various risks, relevant factors and uncertainties that could cause future results or
events to differ materially from those expressed or implied in our forward-looking statements, see our Annual Report on
Form 10-K for the fiscal year ended August 31, 2000, any subsequent Reports on Form 10-Q and Form 8-K and our other
securities filings.
Contact:
Jabil Circuit, Inc., St. Petersburg
Lisa D. Allison, 727/803-3314
lisa_allison@jabil.com |
