SHELTON, Conn., Nov 08, 2010 (BUSINESS WIRE) -- Hubbell Incorporated (NYSE: HUBA, HUBB) announced today the pricing of $300 million of 3.625% Senior Notes due 2022 (the "Senior Notes") in connection with a public offering pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission (the "SEC").
Hubbell intends to use a majority of the net proceeds of the offering to fund Hubbell's tender offer for any and all of the $200 million principal amount of its outstanding 6.375% Notes due 2012, which was separately announced today, and the intended redemption by Hubbell of any such notes that remain outstanding following the tender offer. The remaining portion of the net proceeds will be used for general corporate purposes.
J.P. Morgan Securities LLC and Wells Fargo Securities, LLC are acting as joint book-running managers for the offering of Senior Notes.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the Senior Notes or any other securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering is being made only by means of a prospectus and the related prospectus supplement. Copies of the prospectus and related prospectus supplemental regarding the offering of the Senior Notes may be obtained from Hubbell at 40 Waterview Drive, Shelton, Connecticut 06484-1000 or from J.P. Morgan Securities LLC, Attn: Broadridge Financial Solution, 1155 Long Island Avenue, Edgewood, New York, 11717 or by calling (212) 834-4533 and Wells Fargo Securities, LLC, at 1525 West W.T. Harris Blvd., NC0675, Charlotte, North Carolina 28262, Attn: Syndicate Operations, by email: email@example.com or by calling (800) 326-5897.
Certain statements contained herein may constitute "forward-looking statements" intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements about the offering of the Senior Notes, the timing of the tender offer and the redemption of any remaining notes and are based on our reasonable current expectations. Forward-looking statements may be identified by the use of forward-looking words, such as "intend" and similar words and phrases. Factors, among others, that could cause our actual future actions to differ materially from those described in forward-looking statements include, but are not limited to market conditions and other factors described in our SEC filings. Any such forward looking statements are not guarantees of future performances and actual results, developments and business decisions may differ from those contemplated by such forward-looking statements.
Hubbell Incorporated is an international manufacturer of quality electrical and electronic products for a broad range of non-residential and residential construction, industrial and utility applications. With 2009 revenues of $2.4 billion, Hubbell Incorporated operates manufacturing facilities in the United States, Canada, Switzerland, Puerto Rico, Mexico, the People's Republic of China, Italy, the United Kingdom, Brazil and Australia. Hubbell also participates in joint ventures in Taiwan and Hong Kong, and maintains sales offices in Singapore, the People's Republic of China, Mexico, South Korea, and the Middle East. The corporate headquarters is located in Shelton, CT.
SOURCE: Hubbell Incorporated
William R. Sperry, 475-882-4000