AUBURN HILLS, Mich., Nov. 2 /PRNewswire-FirstCall/ -- Champion
Enterprises, Inc. (NYSE: CHB), a leader in factory-built construction,
today announced the closing of the previously announced public offering of
2.75% convertible senior notes due 2037 (the "notes"). The notes issued
today included $20,000,000 aggregate principal amount of notes purchased
pursuant to the exercise in full of an over-allotment option the company
granted to the underwriter and totaled $180,000,000. Credit Suisse
Securities (USA) LLC acted as the underwriter and sole bookrunning manager
for the notes offering.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of these
securities, in any state or jurisdiction in which such offer, solicitation
or sale would be unlawful prior to the registration or qualification under
the securities laws of any such state or jurisdiction.
About Champion
Auburn Hills, Michigan-based Champion Enterprises, Inc., a leader in
factory-built construction, operates 32 manufacturing facilities in North
America and the United Kingdom working with independent retailers, builders
and developers. The Champion family of builders produces manufactured and
modular homes, as well as modular buildings for government and commercial
applications.
Forward-Looking Statements
This news release contains, in addition to historical information,
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements are based
on the company's current assumptions, expectations and projections about
future events. Words like "believe," "anticipate," "intend," "estimate,"
"expect," "project" and similar expressions are used to identify
forward-looking statements, although not all forward-looking statements
contain these words. These forward-looking statements are necessarily
estimates reflecting the best judgment of the company's senior management
and involve a number of risks and uncertainties that could cause actual
results to differ materially from those suggested by the forward-looking
statements.
Investors should consider the information contained in the company's
filings with the SEC, including its Annual Report on Form 10-K for the 2006
fiscal year, especially in the "Management's Discussion and Analysis of
Financial Condition and Results of Operations" and "Risk Factors" sections,
its most recent Quarterly Reports on Form 10-Q and its Current Reports on
Form 8-K. Other unknown or unpredictable factors also could have material
adverse effects on the company's future results, performance or
achievements. In light of these risks, uncertainties, assumptions and
factors, the forward-looking events discussed in this news release may not
occur. You are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date stated, or if
no date is stated, as of the date of this news release.
The company is not under any obligation and does not intend to make
publicly available any update or other revisions to any of the
forward-looking statements contained in this news release to reflect
circumstances existing after the date of this news release or to reflect
the occurrence of future events even if experience or future events make it
clear that any expected results expressed or implied by those
forward-looking statements will not be realized.
SOURCE Champion Enterprises, Inc.
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Related links:
http://www.championhomes.com
http://www.prnewswire.com/comp/110861.html/
CONTACT:
Laurie Van Raemdonck, Vice President,
Investor Relations, +1-248-340-7731,
lvanraemdonck@championhomes.net, or Phyllis Knight, Executive
Vice President and CFO, +1-248-340-9090, both of Champion
Enterprises, Inc.
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