Solectron begins change-of-control tender offer for 8% notes

By Angela McDaniels

Seattle, Oct. 3 - Solectron Global Finance Ltd. began a tender offer for its 8% senior subordinated notes due 2016 on Wednesday, according to a news release.

Notes tendered under the offer will be purchased on Oct. 31 at 101% of par plus accrued interest.

Any notes not tendered will be redeemed at par plus accrued interest and a make-whole premium on Oct. 31.

The change-of-control offer and redemption are being made in connection with the acquisition of Solectron Corp. by Flextronics International Ltd., which closed on Monday.

In addition, Flextronics plans to hold a change-of-control tender offer for Solectron's 0.5% convertible senior notes due 2034 and 0.5% convertible senior notes series B due 2034. Convertible holders who tender will receive par plus accrued interest to the repurchase date, which is expected to be Dec. 14.

U.S. Bank NA is the paying agent and redemption agent.

Solectron is a Milpitas, Calif.-based provider of complete product lifecycle services. Flextronics is a Singapore-based electronics manufacturing services provider.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.