Barnes Group Inc. Note Holders Notified of Plans to Redeem Balance of 3.375 Percent Notes

By Business Wire,  June 24, 2014, 08:41:00 AM EDT


BRISTOL, Conn.--(BUSINESS WIRE)-- 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, visit www.BGInc.com.

Source: Barnes Group Inc.



This article appears in: News Headlines

Referenced Stocks: B


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