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Solectron Announces Remarketing of Debentures Underlying Equity Security Units
August 6, 2004 |Estimated reading time: Less than a minute
Milpitas, Calif. — Solectron Corp. intends to remarket up to $64,269,950 aggregate principal amount of its 7.25 percent subordinated debentures, due 2006.
The debentures were issued in December 2001 in connection with Solectron's issuance of Adjustable Conversion-Rate Equity Security Units. Each Equity Security Unit consists of (a) a contract to purchase from Solectron on November 15, 2004, at a price of $25, newly issued shares of Solectron common stock, and (b) a debenture in the principal amount of $25, which is the subject of this remarketing. The remarketing is being conducted pursuant to the terms of the Equity Security Units.
The debentures are scheduled to be remarketed to the public on August 16, 2004 by Banc of America Securities LLC, as remarketing agent. On August 16, 2004, Banc of America Securities will reset the rate of interest payable on the remarketed debentures (upon a successful remarketing). The remarketing is being conducted on behalf of debenture holders and Solectron will not receive any of the proceeds.
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.