Barnes Group Inc. Note Holders Notified of Plans to Redeem Balance of 3.375
BRISTOL, Conn. -- June 24, 2014
Barnes Group Inc. (NYSE: B), an international industrial and aerospace
manufacturer and service provider, today announced that The Bank of New York
Mellon Trust Company, N.A., trustee under the indenture for the Company’s
3.375% Convertible Senior Subordinated Notes Due 2027, CUSIP No. 067806AD1, is
providing notice to note holders that Barnes Group has exercised its right to
redeem the remaining $55.4 million principal amount of the 3.375 percent
Convertible Notes under the terms of the Indenture, effective July 31, 2014.
Barnes Group has elected to pay cash to holders of the 3.375 percent
Convertible Notes surrendered for conversion, including the value of any
residual value shares of common stock that might be payable to the holders.
The Company intends to use borrowings under its senior credit facility to
finance the redemption of the 3.375 percent Convertible Notes.
This press release does not constitute a notice of redemption of the 3.375
percent Convertible Notes. The redemption is being made solely pursuant to a
notice of redemption dated June 24, 2014, which has been delivered to the
holders of the 3.375 percent Convertible Notes by The Bank of New York Mellon
Company. This press release does not constitute an offer to sell, or the
solicitation of an offer to buy, any securities.
About Barnes Group
Founded in 1857, Barnes Group Inc. (NYSE: B) is an international industrial
and aerospace manufacturer and service provider, serving a wide range of end
markets and customers. The products and services provided by Barnes Group are
used in far-reaching applications that provide transportation, communication,
manufacturing and technology to the world. Barnes Group’s approximately 4,300
dedicated employees, at more than 60 locations worldwide, are committed to
achieving consistent and sustainable profitable growth. For more information,
Barnes Group Inc.
Director, Investor Relations
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