0:01 | 17.08.2010
Mueller Water Products, Inc. Announces Offering of Senior Notes Due 2020
Mueller Water Products, Inc. (NYSE: MWA) today announced that it intends
to offer, subject to market and other conditions, $225 million aggregate
principal amount of senior notes due 2020. The Company intends to use
the net proceeds from the offering of the notes, together with cash on
hand and amounts to be borrowed under a new credit facility, to repay
amounts outstanding under the Company’s existing credit facilities and
to pay related fees and expenses.
The notes will be offered only to qualified institutional buyers
pursuant to Rule 144A under the Securities Act of 1933, as amended (the
“Securities Act”), and outside the United States to non-U.S. persons
pursuant to Regulation S under the Securities Act. The notes have not
been registered under the Securities Act, or the securities laws of any
state or other jurisdiction, and may not be offered or sold in the
United States without registration or an applicable exemption from the
Securities Act. This press release shall not constitute an offer to
sell, or the solicitation of an offer to buy, the notes, nor shall there
be any sale of the notes in any state in which such offer, solicitation
or sale would be unlawful prior to registration or qualification under
the securities laws of such state.
Safe Harbor Statement
This press release contains certain statements that may be deemed
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995. All statements that address
activities, events or developments that we intend, expect, plan,
project, believe or anticipate will or may occur in the future are
forward-looking statements. Forward-looking statements are based on
certain assumptions and assessments made by us in light of our
experience and perception of historical trends, current conditions and
expected future developments.
Actual results and the timing of events may differ materially from those
contemplated by the forward-looking statements due to a number of
factors, including regional, national or global political, economic,
business, competitive, market and regulatory conditions and the
following:
the demand level of manufacturing and construction activity;
our ability to service our debt obligations; and
the other factors that are described in the section entitled “RISK
FACTORS” in Item 1A of our most recently filed Annual Report on Form
10-K.
Undue reliance should not be placed on any forward-looking statements.
We do not have any intention or obligation to update forward-looking
statements after we file this press release, except as required by law.
About Mueller Water Products, Inc.
Mueller Water Products, Inc. manufactures and markets products and
services that are used in the transmission and distribution of safe,
clean drinking water and in water treatment facilities. Our broad
product portfolio includes engineered valves, fire hydrants, pipe
fittings, water meters and ductile iron pipe, which are used by
municipalities, as well as the residential and non-residential
construction industries. With latest 12 months net sales through June
30, 2010 of $1.4 billion, the Company is comprised of three operating
segments: Mueller Co., U.S. Pipe and Anvil. Based in Atlanta, Georgia,
the Company employs approximately 5,000 people.
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