LIMERICK, Pa., Jun 08, 2011 (BUSINESS WIRE) --
Teleflex Incorporated (NYSE: TFX) ("Teleflex") today announced that it
priced its previously announced public offering of $250 million in
aggregate principal amount of 6.875% senior subordinated notes (the
"notes") at an issue price of 100% of their principal amount. The sale
of the notes is expected to close on June 13, 2011, subject to customary
closing conditions.
The notes will be Teleflex's unsecured senior subordinated obligations.
The notes will be guaranteed by certain of Teleflex's subsidiaries on a
senior subordinated unsecured basis. The notes will pay interest
semi-annually on June 1 and December 1 at a rate of 6.875% per year, and
will mature on June 1, 2019.
The net proceeds of the offering are expected to be $245.8 million.
Teleflex intends to use the net proceeds from this offering to prepay
$125 million of borrowings under its credit facilities and the remainder
for general corporate purposes, which may include, among other things,
capital expenditures, acquisitions and additional repayment of debt.
BofA Merrill Lynch, Goldman, Sachs & Co. and J.P. Morgan are acting as
joint book-running managers for the offering.
A copy of the preliminary prospectus supplement, the accompanying
prospectus and the final prospectus supplement for the offering, when
available, may be obtained from the SEC website at www.sec.gov.
Alternatively, a copy of these documents may be obtained from the
underwriters upon request by contacting BofA Merrill Lynch at 4 World
Financial Center, New York, NY 10080, Attention: Prospectus Department
or emailing dg.prospectus_requests@baml.com,
Goldman, Sachs & Co. at 200 West Street, New York, NY 10282, (866)
471-2526 or emailing prospectus-ny@ny.email.gs.com
or J.P. Morgan at 383 Madison Avenue, 3rd Floor New York, NY 10179,
(800) 245-8812.
The offering of notes is being made pursuant to Teleflex's shelf
registration statement filed with the Securities and Exchange Commission
(the "SEC"). This press release shall not constitute an offer to sell or
the solicitation of an offer to buy any securities nor shall there be
any sale of any securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction.
About Teleflex Incorporated
Teleflex is a leading global provider of specialty medical devices for a
range of procedures in critical care and surgery. Its mission is to
provide solutions that enable healthcare providers to improve outcomes
and enhance patient and provider safety. Headquartered in Limerick, PA,
Teleflex employs approximately 12,000 people worldwide and serves
healthcare providers in more than 130 countries. Teleflex also has niche
businesses which produce specialty engineered products for the aerospace
market.
Caution Concerning Forward-Looking Information
This press release contains forward-looking statements. Actual results
could differ materially from those in the forward-looking statements due
to, among other things, Teleflex's ability to comply with government
regulation to which it is subject; changes in business relationships
with and purchases by or from major customers or suppliers, including
delays or cancellations in shipments; demand for and market acceptance
of new and existing products; Teleflex's ability to resolve, to the
satisfaction of the U.S. Food and Drug Administration, the issues
identified in the corporate warning letter issued to its subsidiary
Arrow International, Inc.; Teleflex's ability to integrate acquired
businesses into its operations, realize planned synergies and operate
such businesses profitably in accordance with expectations; Teleflex's
ability to effectively execute its restructuring programs; the impact of
recently passed healthcare reform legislation and changes in Medicare,
Medicaid and third-party coverage and reimbursements; competitive market
conditions and resulting effects on revenues and pricing; increases in
raw material costs that cannot be recovered in product pricing; global
economic factors, including currency exchange rates and interest rates;
difficulties entering new markets; and general economic conditions; and
other factors described in Teleflex's filings with the SEC, including
its Annual Report on Form 10-K and the preliminary prospectus supplement
relating to the offering of the securities.
SOURCE: Teleflex Incorporated
Teleflex Incorporated
Jake Elguicze
Vice President Investor Relations
610-948-2836