NEW BRITAIN, Conn., Nov. 16 /PRNewswire-FirstCall/ -- The Stanley Works
(NYSE: SWK) announced today that it has priced an offering of $450 million of
Enhanced Trust Preferred Securities through its wholly-owned trust subsidiary,
The Stanley Works Capital Trust I. Net proceeds from the securities are
expected to be used toward the pending acquisitions of Facom Tools and
National Hardware.
The Trust Preferred Securities and the underlying Junior Subordinated Debt
Securities of The Stanley Works feature a 40-year term and an initial coupon
rate of 5.902%, which is fixed for 5 years, and can be redeemed at par on or
after the fifth anniversary of the closing of the offering.
The Stanley Works expects to complete the offering on or about
November 22, 2005, subject to customary closing conditions.
The securities have not been and may not be registered under the
Securities Act of 1933, as amended (the "Act") and may not be offered or sold
in the United States absent registration or applicable exemption from such
registration. The securities are being offered in the United States only to
qualified institutional buyers pursuant to Rule 144A under the Act and outside
the United States pursuant to Regulation S under the Act.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any of the securities.
SOURCE Stanley Works
 back to top
Related links:
http://www.StanleyWorks.com
Company News On-Call:
http://www.prnewswire.com/comp/874363.html
CONTACT:
Gerry Gould, V.P. - Investor Relations,
+1-860-827-3833, ggould@stanleyworks.com
|
