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
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.