Tyco Electronics ups late tender price for 6%, 6.55%, 7.125% notes

By Angela McDaniels

Tacoma, Wash., June 23 - Tyco Electronics Ltd. wholly owned subsidiary Tyco Electronics Group SA amended its tender offer for three series of notes so that all holders who tender will receive the early tender payment, according to a company news release.

Previously, only holders who tendered by the early tender deadline, 5 p.m. ET on June 22, would have received the early tender payment.

The company is offering to purchase up to $150 million of its $800 million of 6% senior notes due 2012, up to $100 million of its $750 million of 6.55% senior notes due 2017 and up to $100 million of its $750 million of 7.125% senior notes due 2037.

For each $1,000 principal amount, the company will pay $980 for the 6% notes, $900 for the 6.55% notes and $800 for the 7.125% notes. Each payout includes the $30 early tender payment.

Holders will also receive accrued interest.

The tender offer began on June 9 and will expire at 11:59 p.m. ET on July 7.

As of June 22, holders had tendered $83,519,000 of the 6% notes, $41,738,000 of the 6.55% notes and $22,178,000 of the 7.125% notes.

The dealer manager is J.P. Morgan Securities Inc. (866 834-4666 or call collect 212 834-3424). The information agent is Global Bondholder Services Corp. (866 470-3900).

Tyco Electronics is a Pembroke, Bermuda-based provider of engineered electronic components, network solutions, undersea telecommunication systems and specialty products.

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