ANDERSON, Ind., March 30 /PRNewswire/ -- Delco Remy International, Inc.
today announced that it plans to issue $125 million of Second-Priority Senior
Secured Floating Rate Notes due 2009 and $150 million of Senior Subordinated
Notes due 2012. The notes will be issued in a private placement and are
expected to be resold by the initial purchasers to qualified institutional
buyers under Rule 144A of the Securities Act of 1933, as amended. The
proceeds from the sale of the notes will be used to pay down existing
indebtedness under the Company's senior credit facility, to redeem the
Company's senior subordinated notes due 2006 in their entirety and for general
corporate purposes.
The notes to be offered have not been registered under the Securities Act
of 1933, as amended, or any state securities laws and may not be offered or
sold in the United States absent registration or an applicable exemption from
registration requirements. This news release shall not constitute an offer to
sell or a solicitation of an offer to buy such notes in any jurisdiction in
which such an offer or sale would be unlawful and is issued pursuant to Rule
135c under the Securities Act of 1933, as amended.
About Delco Remy:
Delco Remy International, Inc., headquartered in Anderson, Indiana, is a
leading designer, manufacturer, remanufacturer and distributor of electrical,
drivetrain/powertrain and related products and core exchange service for
automobiles and light trucks, medium- and heavy-duty trucks and other heavy-
duty off-road and industrial applications. It was formed in 1994 as a partial
divestiture by General Motors Corporation of the former Delco Remy division,
which traces its roots to Remy Electric, founded in 1896.
Caution Regarding Forward-Looking Statements:
This news release contains statements relating to future results of the
Company that are "forward-looking statements" as defined in the Private
Securities Litigation Reform Act of 1995 (the "Act") or by the Securities and
Exchange Commission ("SEC") in its rules, regulations and releases. The
Company desires to take advantage of the "safe harbor" provisions in the Act
for forward-looking statements made in this press announcement. Any
statements set forth in this news release with regard to its expectations as
to financial results and other aspects of its business may constitute forward-
looking statements. These statements relate to the Company's future plans,
objectives, expectations and intentions and may be identified by words like
"believe," "expect," "may," "will," "should," "seek," or "anticipate," and
similar expressions. The Company cautions readers that any such forward-
looking statements are based on assumptions that the Company believes are
reasonable, but are subject to a wide range of risks including, but not
limited to, risks associated with the uncertainty of future financial results,
pending arbitration and other litigation proceedings, acquisitions, additional
financing requirements, development of new products and services, the effect
of competitive products or pricing, the effect of economic conditions and
other uncertainties detailed from time to time in the Company's filings with
the SEC. Due to these uncertainties, the Company cannot assure readers that
any forward-looking statements will prove to have been correct.
SOURCE Delco Remy International, Inc.
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Related links:
http://www.delcoremy.com
Company News On-Call:
http://www.prnewswire.com/comp/111635.html
CONTACT:
David E. Stoll of Delco Remy International,
Inc., +1-765-778-6523
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