Summary
Curtiss-Wright Corporation (CW) announced on September 25, 2003, the successful completion of a $200 million senior notes offering. This offering comprises $125 million in 5.74% senior notes due 2013 and $75 million in 5.13% senior notes due 2010. The issuance was conducted as a private placement, exempt from the registration requirements of the Securities Act of 1933, and targeted institutional accredited investors. The company intends to utilize the net proceeds from this offering for a strategic combination of reducing outstanding debt under its revolving credit facilities, financing its ongoing strategic growth initiatives, and general corporate purposes. This move indicates a proactive approach by Curtiss-Wright to manage its capital structure, strengthen its financial flexibility, and support its future expansion plans.
Key Highlights
- 1Curtiss-Wright successfully completed a $200 million senior notes offering on September 25, 2003.
- 2The offering consists of two tranches: $125 million of 5.74% senior notes due 2013 and $75 million of 5.13% senior notes due 2010.
- 3The offering was structured as a private placement to institutional accredited investors, exempt from SEC registration.
- 4Proceeds will be used to pay down outstanding debt under the company's revolving credit facilities.
- 5Funds will also support Curtiss-Wright's strategic growth plan.
- 6Remaining proceeds are allocated for other general corporate purposes.
- 7This issuance is a key event for the company's capital management and future investment strategy.