Textron Inc. Announces Its 4.5% Convertible Senior Notes Due 2013
Convertible at Holder’s Discretion
PROVIDENCE, R.I. -- September 28, 2012
Textron Inc. (NYSE: TXT) (“Textron”) announced today that its 4.5% Convertible
Senior Notes due 2013 (CUSIP #883203BN0) (the “Notes”) will be convertible at
the option of the holders through December 31, 2012, the last day of the
fourth calendar quarter, as provided in the Indenture, dated as of September
10, 1999, between Textron and The Bank of New York Mellon Trust Company, N.A.,
as Trustee, as supplemented by the Supplemental Indenture, dated as of May 5,
2009 (the “Indenture”).
The Notes will be convertible because Textron’s common stock price exceeded
the conversion threshold price of $17.06 per share (130 percent of the
applicable conversion price of $13.125 per share) for at least 20 trading days
during the 30 consecutive trading days ending September 28, 2012.
As a result, during the fourth calendar quarter, holders of the Notes may
elect to convert some or all of their Notes. Whether the Notes will be
convertible at any time after December 31, 2012 will depend on whether any of
the conversion conditions specified in the Indenture are satisfied, including
whether the price of Textron’s common stock exceeds the conversion threshold
price for the requisite number of trading days during subsequent quarters.
The Company may deliver shares of common stock, cash or a combination of cash
and shares of common stock in satisfaction of its obligations upon conversion
of the Notes.
Holders of Notes may obtain further information on how to convert their Notes
by contacting the conversion agent at the following address:
Bank of New York Mellon Corporation
Corporate Trust Operations
101 Barclay Street - 7 East
New York, N.Y. 10286
Attn: Ms. Diane Amoroso
This press release is for informational purposes only and does not constitute
an offer to buy or the solicitation of an offer to sell any Notes or Textron’s
Textron is a multi-industry company that leverages its global network of
aircraft, defense, industrial and finance businesses to provide customers with
innovative solutions and services. Textron is known around the world for its
powerful brands such as Bell Helicopter, Cessna Aircraft Company, Jacobsen,
Kautex, Lycoming, E-Z-GO, Greenlee and Textron Systems. More information is
available at www.textron.com.
Doug Wilburne, 401-457-2288
Justin Bourdon, 401-752-5165
David Sylvestre, 401-457-2362
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