-
- News
- Books
Featured Books
- smt007 Magazine
Latest Issues
Current IssueBox Build
One trend is to add box build and final assembly to your product offering. In this issue, we explore the opportunities and risks of adding system assembly to your service portfolio.
IPC APEX EXPO 2024 Pre-show
This month’s issue devotes its pages to a comprehensive preview of the IPC APEX EXPO 2024 event. Whether your role is technical or business, if you're new-to-the-industry or seasoned veteran, you'll find value throughout this program.
Boost Your Sales
Every part of your business can be evaluated as a process, including your sales funnel. Optimizing your selling process requires a coordinated effort between marketing and sales. In this issue, industry experts in marketing and sales offer their best advice on how to boost your sales efforts.
- Articles
- Columns
Search Console
- Links
- Events
||| MENU - smt007 Magazine
Solectron Announces Successful Remarketing of Debentures Underlying Equity Security Units
August 18, 2004 |Estimated reading time: 1 minute
Milpitas, Calif. — Solectron Corp. announces the remarketing of approximately $64.3 million aggregate principal amount of its 7.25 percent subordinated debentures due 2006.
As a result of the remarketing, the annual interest rate on the debentures was reset to 7.97 percent, effective August 15, 2004. The bonds were sold to investors at a price of 101.98 percent of the principal amount, resulting in a yield to investors of 7.007 percent. The debentures no longer form part of the Adjustable Conversion-Rate Equity Security Units.
The remarketing was conducted pursuant to the terms of the Equity Security Units and is scheduled to close August 19, 2004. Banc of America Securities LLC is the remarketing agent for the transaction.
The remarketing is being conducted on behalf of debenture holders and Solectron will not receive any of the proceeds. Proceeds from the remarketed debentures will be used to purchase U.S. Treasury securities that will be pledged to secure the stock purchase obligations of the holders of the Equity Security Units. The U.S. Treasury securities will be held by the collateral agent, U.S. Bank National Association. In November 2004, Solectron will receive approximately $64.3 million from the collateral agent and will issue common stock under the forward stock purchase contracts, which will complete the company's equity obligations under the original Equity Security Units.
Solectron Corp. provides a full range of worldwide manufacturing and integrated supply chain services to the world's premier high-tech electronics companies. For more information, visit www.solectron.com.