Proration Factors and Payment Date Included
WALTHAM, Mass., Oct. 29, 2004 /PRNewswire-FirstCall/ -- Raytheon Company
(NYSE: RTN) announced today the results of its previously announced tender
offers (the "Tender Offers") for 5 different series of debt securities (each,
a "Security", and collectively, the "Securities"), which has now closed. The
Tender Offer commenced on September 30, 2004, and expired at 11:59 p.m., New
York City time, on Thursday, October 28, 2004. At settlement, the Company
will pay approximately $1.1 billion in total (including accrued and unpaid
interest and early tender fees) for all Securities purchased.
The following table provides the aggregate principal amount tendered and
accepted for each series of Securities:
Aggregate Principal
Title of CUSIP Amount Tendered Proration
Securities Number and Accepted Factor
6.500% Notes due
July 15, 2005 755111AB7 $300,000,000 73.0172%
6.750% Notes due
August 15, 2007 755111AE1 $300,000,000 41.5806%
4.500% Notes due
November 15, 2007 755111BM2 $100,000,000 52.0785%
6.150% Notes due
November 1, 2008 755111AN1 $175,000,000 40.7092%
6.00% Notes due
December 15, 2010 755111AV3 $125,000,000 74.4646%
Raytheon will prorate the tenders according to the Proration Factors noted
above. Where proration results in tenders of bonds other than in integral
multiples of $1,000, those tenders will be rounded up to the nearest $1,000.
Bonds that are not accepted for payment as a result of the proration will
promptly be returned to holders.
The Payment Date for the tender is November 2, 2004.
NOTE: The statements in this press release that are not historical
statements are considered forward-looking statements within the meaning of the
federal securities laws. These statements are subject to risks, uncertainties
and other factors, many of which are beyond the Company's control, which could
cause the Company's actual performance to be materially different from those
expressed or implied by the statements. The Company expressly disclaims a
duty to provide updates to forward-looking statements, and the estimates and
assumptions associated with them, after the date of this press release to
reflect the occurrence of subsequent events, changed circumstances or changes
in the Company's expectations. Further information regarding factors that
could affect the Company's forward-looking statements are reported in the
Company's 2003 Annual Report on Form 10-K and its Quarterly Reports on Form
10-Q filed with the Securities and Exchange Commission (http://www.sec.gov).
Raytheon Company (NYSE: RTN), with 2003 sales of $18.1 billion, is an
industry leader in defense and government electronics, space, information
technology, technical services, and business and special mission aircraft.
With headquarters in Waltham, Mass., Raytheon employs 78,000 people worldwide.
Contact
Steve Brecken
781.522.5127
SOURCE Raytheon Company
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Related links:
http://www.raytheon.com
CONTACT:
Steve Brecken of Raytheon Company,
+1-781-522-5127
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