ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for default Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.

JJZ Jacuzzi Brands

0.00
0.00 (0.00%)
After Hours
Last Updated: -
Delayed by 15 minutes
Share Name Share Symbol Market Type
Jacuzzi Brands NYSE:JJZ NYSE Ordinary Share
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.00 -

Jacuzzi Brands, Inc. Commences 'Offer to Purchase' Up to an Aggregate of $47,690,000 Aggregate Principal Amount of its 9 5/8% S

11/04/2006 10:03pm

Business Wire


Jacuzzi (NYSE:JJZ)
Historical Stock Chart


From Jun 2019 to Jun 2024

Click Here for more Jacuzzi Charts.
Offer Price is 100% of Principal Amount Plus Accrued and Unpaid Interest, As Required by the Indenture Governing the Securities Jacuzzi Brands, Inc. ("Jacuzzi") today announced that it has commenced an "asset disposition offer" for the purchase of an aggregate of up to $47,690,000 aggregate principal amount of its 9 5/8% Senior Secured Notes Due 2010 (the "Securities") at a purchase price of $1,000 per $1,000 principal amount of the Securities, plus accrued and unpaid interest to the date of payment. The offer will expire at 12:01 a.m., New York City time, on May 22, 2006, unless extended. On June 30, 2005, the Company completed the sale of its investment in Rexair, Inc. to Rhone Capital LLC. On July 1, 2005, the Company completed the sale of substantially all of the assets of Eljer Plumbingware, Inc. to affiliates of Sun Capital Partners, Inc. The Indenture governing the Securities requires Jacuzzi to reinvest the net proceeds from asset sales in assets useful to its business within one year of the closing, or use such proceeds to repay debt senior to the Securities. To the extent that Jacuzzi does not so apply the proceeds, it must make an asset disposition offer to purchase the Securities. Jacuzzi has applied approximately $98.8 million of the asset sale proceeds to retire its term loan and repay the balance of its asset-based credit facility. The Company has determined to launch the offer at this time with the remaining proceeds, net of certain expenses and payments incurred in connection with the dispositions, as provided in the Indenture. This press release is neither an offer to purchase nor a solicitation of an offer to sell the Securities. The offer is being made only by the Offer to Purchase dated April 11, 2006. Persons with questions regarding the offer should contact Diana Burton, Vice President-Investor Relations, by telephone at (561) 514-3850. About Jacuzzi Brands Jacuzzi Brands, Inc. through its subsidiaries, is a global manufacturer and distributor of branded bath and plumbing products for the residential, commercial and institutional markets. These include whirlpool baths, spas, showers, sanitary ware and bathtubs, as well as professional grade drainage, water control, commercial faucets and other plumbing products. Its products are marketed under its portfolio of brand names, including JACUZZI(R), SUNDANCE(R), ZURN(R), and ASTRACAST(R). Learn more at www.jacuzzibrands.com. Business Risks The statements contained in this press release and Jacuzzi's other oral and written statements that are not historical in nature are forward-looking statements that involve risks and uncertainties. Although management of Jacuzzi believes that its expectations are based upon reasonable assumptions within the bounds of its knowledge of Jacuzzi's business, there can be no assurance that they in fact will be realized. Numerous factors may affect Jacuzzi's actual results and may cause results to differ materially from those expressed in forward-looking statements made by or on behalf of Jacuzzi including such factors listed from time to time in Jacuzzi's reports filed with the Securities and Exchange Commission including the factors described in Jacuzzi's 2005 Annual Report on Form 10-K under the heading "Disclosure Concerning Forward-Looking Statements and Factors That May Affect Future Results." Jacuzzi does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

1 Year Jacuzzi Chart

1 Year Jacuzzi Chart

1 Month Jacuzzi Chart

1 Month Jacuzzi Chart

Your Recent History

Delayed Upgrade Clock