B/E Aerospace, Inc. Announces Closing of $200 Million of 9 1/2% Senior Subordinated Notes Offering
WELLINGTON, Fla.--(BUSINESS WIRE)--Nov. 2, 1998--B/E Aerospace, Inc. (Nasdaq-NMS: BEAV - news) announced today that it has issued $200 million of 9 1/2% Senior Subordinated Notes due 2008 with registration rights.
Moody's Investor Service and Standard & Poor's have assigned ratings of ''B1'' and ''B,'' respectively, to the Notes.
Proceeds of the Notes will be used by the Company to purchase 4,000,000 shares of the Company's Common Stock previously issued to former stockholders of SMR Aerospace and to repay outstanding bank indebtedness. The issuance of the Notes was managed by Merrill Lynch & Co., BT Alex. Brown, Chase Securities Inc., Credit Suisse First Boston, Morgan Stanley Dean Witter and PaineWebber Incorporated.
The Notes were issued pursuant to Rule 144A under the Securities Act of 1933 and may not be offered or sold in the United States without such registration or an applicable exemption from its registration requirements.
B/E Aerospace, Inc. (B/E) is the world's leading manufacturer of cabin interior products, serving virtually all the world's airlines and aircraft manufacturers. B/E designs, develops, manufactures, sells and services a broad line of passenger cabin interior products for both commercial and general aviation aircraft and provides interior design, reconfiguration and conversion services to its customers throughout the world.
This press release contains forward-looking statements that involve risks and uncertainties that may cause the Company's actual experience to differ materially from that anticipated. Factors that might cause such a difference include, but are not limited to, those discussed in the Company's filings with the Securities and Exchange Commission, including its most recent Form 10-Q, proxy statement and Form 10-K, and in ''Risk Factors'' in its Form S-3 filed on July 30, 1998 relating to the registration of the Company's common stock, as well as future events that have the effect of reducing the Company's available cash balances, such as unexpected operating losses or delays in the integration of the Company's acquired businesses or the delivery of the MDDS interactive video system or capital expenditures or cash expenditures related to possible future acquisitions. |
