-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, TXRRA47w0NSPzMb5vwkRwInilwRLOCY1xkbOhWFPQX2itT1wr2v7nJEbTQmXdqOp fipOEceHUay1E+UnoveA8Q== 0001047469-07-004538.txt : 20070523 0001047469-07-004538.hdr.sgml : 20070523 20070522215221 ACCESSION NUMBER: 0001047469-07-004538 CONFORMED SUBMISSION TYPE: SC TO-I/A PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20070523 DATE AS OF CHANGE: 20070522 GROUP MEMBERS: TYCO INTERNATIONAL GROUP, S.A. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: TYCO INTERNATIONAL LTD /BER/ CENTRAL INDEX KEY: 0000833444 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRONIC CONNECTORS [3678] IRS NUMBER: 000000000 STATE OF INCORPORATION: D0 FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: SC TO-I/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-43685 FILM NUMBER: 07872467 BUSINESS ADDRESS: STREET 1: 90 PITTS BAY ROAD STREET 2: THE ZURICH CENTRE SECOND FLOOR CITY: PEMROKE HM 08 BERMU STATE: D0 BUSINESS PHONE: 4412928674 MAIL ADDRESS: STREET 1: C/O TYCO INTERNATIONAL (US) INC STREET 2: ONE TYCO PARK CITY: EXETER STATE: NH ZIP: 03833 FORMER COMPANY: FORMER CONFORMED NAME: ADT LIMITED DATE OF NAME CHANGE: 19930601 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: TYCO INTERNATIONAL LTD /BER/ CENTRAL INDEX KEY: 0000833444 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRONIC CONNECTORS [3678] IRS NUMBER: 000000000 STATE OF INCORPORATION: D0 FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: SC TO-I/A BUSINESS ADDRESS: STREET 1: 90 PITTS BAY ROAD STREET 2: THE ZURICH CENTRE SECOND FLOOR CITY: PEMROKE HM 08 BERMU STATE: D0 BUSINESS PHONE: 4412928674 MAIL ADDRESS: STREET 1: C/O TYCO INTERNATIONAL (US) INC STREET 2: ONE TYCO PARK CITY: EXETER STATE: NH ZIP: 03833 FORMER COMPANY: FORMER CONFORMED NAME: ADT LIMITED DATE OF NAME CHANGE: 19930601 SC TO-I/A 1 a2178099zscto-ia.htm SC TO-I/A
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SECURITIES AND EXCHANGE COMMISSION,
Washington, D.C. 20549


SCHEDULE TO
(Rule 13e-4)
TENDER OFFER STATEMENT UNDER SECTION 14(d)(1) OR 13(e)(1)
OF THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

TYCO INTERNATIONAL LTD.
TYCO INTERNATIONAL GROUP S.A.
(Name of Subject Company (Issuer))

TYCO INTERNATIONAL LTD.
TYCO INTERNATIONAL GROUP S.A.
(Name of Filing Persons (Offeror))

3.125% Convertible Senior Debentures due 2023 (Title of Class of Securities)

902118BE7 / 902118BG2
(CUSIP Number of Class of Securities)

Judith A. Reinsdorf, Esq.
c/o Tyco International Management Company
9 Roszel Road
Princeton, New Jersey 08540
(609) 720-4200

(Name, Address and Telephone Number of Person Authorized to Receive Notices
and Communications on Behalf of Filing Persons)

Copies to:
Steven R. Finley, Esq.
Gibson, Dunn & Crutcher LLP
200 Park Avenue
New York, New York 10166-0193
Tel. (212) 351-4000
Fax. (212) 351-4035

CALCULATION OF FILING FEE


Transaction Valuation *
  Amount of Filing Fee**

$1,169,090,375   $35,891.07

*
Estimated solely for purposes of calculating the filing fee pursuant to Rule 0-11(b). The transaction value is based upon an assumed purchase price for the 3.125% Convertible Senior Debentures due 2023 (the "notes") of $1,557.84 per $1,000.00 principal amount. The aggregate outstanding principal amount of the Notes equals $750,456,000. The assumed purchase price per $1,000.00 principal amount was calculated as the product of the closing price of the common stock of Tyco International Ltd. on April 26, 2007, which equaled $32.52, and the conversion rate of the Notes of 45.9821 shares of the common stock of Tyco International Ltd. per $1,000.00 principal amount, plus a premium of $62.50 per $1,000.00 principal amount.

**
$30.70 per million dollars of transaction value, in accordance with Rule 0-11(b) and Fee Rate Advisory No. 7 for fiscal 2007.

ý   Check the box if any part of the fee is offset as provided by Rule 0-1 1(a)(2) and identify the filing with which the offsetting fee was previously paid. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing.

 

 

Amount Previously Paid:

 

$35,891.07

 

Filing Party:

 

Tyco International Ltd.
                Tyco International Group S.A.

 

 

Form or Registration No.:

 

SC TO-I

 

Date Filed:

 

April 27, 2007

o

 

Check the box if the filing relates solely to preliminary communications made before the commencement of a tender offer.

 

 

Check the appropriate boxes to designate any transactions to which this statement relates:

 

 

o  third-party tender offer subject to Rule 14d-1

 

o  going-private transaction subject to Rule 13e-3

 

 

ý  issuer tender offer subject to Rule 13e-4

 

o  amendment to Schedule 13D under Rule 13d-2

 

 

Check the following box if the filing is a final amendment reporting the results of the tender offer.    o





INTRODUCTORY STATEMENT

        This Amendment No. 2 amends and supplements the Tender Offer Statement on Schedule TO-I filed with the Securities and Exchange Commission on April 27, 2007 by Tyco International Ltd., a company organized under the laws of Bermuda ("Tyco"), and Tyco International Group S.A. (the "Company"), a company organized under the laws of Luxembourg and a wholly owned subsidiary of Tyco, relating to the offer to purchase all of the Company's outstanding 3.125% Convertible Senior Debentures due 2023 issued by the Company on January 13, 2003 (the "Notes") and solicitation of consents to amendments to the indenture under which the Notes were issued, upon the terms and subject to the conditions set forth in the Offer to Purchase and Consent Solicitation Statement filed April 27, 2007 (the "Offer to Purchase") and in the related Consent and Letter of Transmittal. Capitalized terms used herein and not otherwise defined shall have the meanings given to them in the Offer to Purchase.

Item 11.    Additional Information

        On May 22, 2007, Tyco issued a press release announcing the results of the calculation of the Weighted Average Price of the Common Stock and the Purchase Price for the Tender Offer, which expires at 12:00 Midnight, New York City time, on Thursday, May 24, 2007. A copy of the press release is filed herewith as an exhibit to this Schedule TO-I and is incorporated herein by reference.

Item 12.    Exhibits

        Item 12 of the Schedule TO-I is hereby amended and supplemented to include the following exhibit:

  (a)(5)(iii)   Press Release, dated May 22, 2007.

2



SIGNATURE

        After due inquiry and to the best of my knowledge and belief, I certify that the information set forth in this Amendment No. 2 to the Schedule TO-I is true, complete and correct.


 

 

TYCO INTERNATIONAL LTD.

 

 

By:

/s/  
CHRISTOPHER COUGHLIN      
      Name: Christopher Coughlin
      Title: Executive Vice President and Chief Financial
           Officer

 

 

TYCO INTERNATIONAL GROUP S.A.

 

 

By:

/s/  
MICHELANGELO STEFANI      
      Name: Michelangelo Stefani
      Title: Managing Director

Dated: May 22, 2007

 

 

 

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EXHIBIT INDEX

Exhibit No.
  Description


(a)(1)(i)

 

Offer to Purchase, dated April 27, 2007.

(a)(1)(ii)

 

Consent and Letter of Transmittal (including Substitute Form W-9 and Guidelines for Certification of Taxpayer Identification Number on Substitute Form W-9).

(a)(1)(iii)

 

Letter to Brokers, Dealers, Commercial Banks, Trust Companies and other Nominees.

(a)(1)(iv)

 

Letter to Clients for use by Brokers, Dealers, Commercial Banks, Trust Companies and Other Nominees

(a)(5)(i)

 

Press Release, dated April 27, 2007.

(a)(5)(ii)

 

Press Release, dated May 10, 2007.

(a)(5)(iii)

 

Press Release, dated May 22, 2007.

(b)(1)

 

364-Day Senior Bridge Loan Agreement (Electronics Businesses), dated April 25, 2007, among Tyco International Group S.A., Tyco International Ltd., Tyco Electronics Group S.A., Tyco Electronics Ltd., the lenders party there to and Bank of America, N.A., as Administrative Agent, incorporated by reference to Tyco's current report on Form 8-K filed on April 27, 2007.

(b)(2)

 

364-Day Senior Bridge Loan Agreement (Fire & Safety and Engineered Products Businesses), dated April 25, 2007, by and among Tyco International Group S.A., Tyco International Ltd., Tyco International Finance S.A., the lenders party thereto and Citibank, N.A., as Administrative Agent, incorporated by reference to Tyco's current report on Form 8-K filed on April 27, 2007.

(b)(3)

 

364-Day Senior Bridge Loan Agreement (Healthcare Businesses), dated April 25, 2007, by and among Tyco International Group S.A., Tyco International Ltd., Covidien International Finance S.A., Covidien, Ltd., the lenders party thereto and Citibank, N.A., as Administrative Agent, incorporated by reference to Tyco's current report on Form 8-K filed on April 27, 2007.

(d)(1)

 

Indenture, dated January 13, 2003, by and among Tyco International Group S.A., Tyco International Ltd. and U.S. Bank, N.A., incorporated by reference to Tyco's quarterly report on Form 10-Q for the quarter ended December 31, 2002.

(g)

 

Not applicable.

(h)

 

Not applicable.

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INTRODUCTORY STATEMENT
SIGNATURE
EXHIBIT INDEX
EX-99.(A)(5)(III) 2 a2178099zex-99_a5iii.htm EXHIBIT (A)(5)(III)
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Exhibit (a)(5)(iii)


TYCO ANNOUNCES PRICING TERMS IN CONNECTION WITH CERTAIN TENDER OFFERS AND CONSENT SOLICITATIONS

PEMBROKE, Bermuda—May 22, 2007—Tyco International Ltd. ("Tyco") (NYSE: TYC; BSX: TYC) today announced pricing terms in connection with the tender offers of certain of its subsidiaries that are issuers of its corporate debt for their outstanding Dollar-denominated public debt set forth in the tables below.

Non-Convertible U.S. Debt

        The following table sets forth the pricing terms for the non-convertible U.S. debt securities of the specified issuer subject to the tender offers and consent solicitations (collectively, the "Notes"):

Tyco International Group S.A.

  CUSIP
  Reference
U.S. Treasury
Security

  Fixed
Spread

  Cash Flow
Yield

  Total
Consideration
Per $1,000

6.125% notes due 2008   902118AM0   4.875% due 10/31/2008   0.30 % 5.264 % $1,011.60

6.125% notes due 2009

 

902118AJ7

 

3.250% due 1/15/2009

 

0.35

%

5.236

%

$1,013.62

6.75% notes due 2011

 

902118AY4

 

5.000% due 2/15/2011

 

0.35

%

5.080

%

$1,055.74

6.375% notes due 2011

 

902118BC1

 

4.500% due 9/30/2011

 

0.40

%

5.164

%

$1,046.84

6.0% notes due 2013

 

902118BK3

 

4. 250% due 11/15/2013

 

0.40

%

5.165

%

$1,045.35

7.0% notes due 2028

 

902118AC2

 

4.750% due 2/15/2037

 

0.60

%

5.568

%

$1,176.18

6.875% notes due 2029

 

902118AK4

 

4.750% due 2/15/2037

 

0.60

%

5.568

%

$1,163.07

United States Surgical Corporation (as successor to Mallinckrodt Inc.)

 

 

 

 

 

 

 

 

 

 

6.5% Notes due 2007

 

561226AB7

 

4.250% due 10/31/2007

 

0.30

%

5.267

%

$1,005.52

7.0% Debentures due 2013

 

452454AB7

 

4.250% due 11/15/2013

 

0.40

%

5.165

%

$1,100.77

Tyco Electronics Corporation (as successor to Raychem Corporation)

 

 

 

 

 

 

 

 

 

 

7.2% Notes due 2008

 

754603AB4

 

3.125% due 10/15/2008

 

0.40

%

5.375

%

$1,023.84

        The total consideration for each $1,000 principal amount of Notes (the "Total Consideration") equals the present value of the remaining interest and principal payments on the Notes, calculated as set forth in the relevant tender offer and consent solicitation document, based on a yield to maturity (the "Cash Flow Yield") for such Notes equal to the yield to maturity of the U.S. Treasury reference security (the "UST Reference Security") for such Notes (the "Reference Yield") plus the fixed spread for such Notes indicated in the table above.



        The tender offers for all of the Notes remain open and are scheduled to expire at 12:00 midnight, New York City time on Thursday, May 24, 2007, unless extended or earlier terminated (the "Expiration Date"). Holders of Notes who tender their Notes after the Early Consent Date specified in the relevant tender offer and consent solicitation document, but before the Expiration Date, will be eligible to receive the Total Consideration less the early consent payment of $30.00.

Convertible U.S. Debt

    Convertible Senior Debentures due 2023

        The following table sets forth the pricing terms for the convertible U.S. debt securities due 2023 of the issuer subject to the tender offers and consent solicitations (the "2023 Convertible Notes"):

Tyco International Group S.A.

  CUSIP
  Weighted
Average
Price

  Purchase Price
Per $1,000

3.125% Convertible Senior Debentures due 2023   902118BE7   $ 32.31   $ 1,550.48
    902118BG2            

        The purchase price for each $1,000 principal amount of 2023 Convertible Notes (the "2023 Convertible Notes Purchase Price") is the sum of:

    (A)
    45.9821 times the Weighted Average Price; plus

    (B)
    $62.50; plus

    (C)
    $2.30 (representing the increase in the 2023 Convertible Notes Purchase Price on May 10, 2007 to accommodate expected ex-dividend trading of Tyco's common shares).

        For purposes of this calculation, "Weighted Average Price" means the arithmetic average of the daily volume-weighted average price of Tyco's common shares, par value $.20 per share, for the ten trading days prior to and including May 22, 2007. The daily volume-weighted average equals the daily volume-weighted average price for Tyco's common shares on the New York Stock Exchange during the period beginning at 9:30:01 a.m., New York City time (or such other time as is the official open of trading at the New York Stock Exchange) and ending at 4:00:00 p.m., New York City time (or such other time as is the official close of trading at the New York Stock Exchange) as reported by Bloomberg Financial Services through its "Volume at Price" function. The Weighted Average Price and the variable cash component of the purchase price are rounded to the nearest whole cent.

        Holders of the 2023 Convertible Notes must tender their 2023 Convertible Notes and deliver their consents by 12:00 midnight, New York City time, on May 24, 2007, unless such date is extended or earlier terminated, to be eligible to receive the 2023 Convertible Notes Purchase Price. Holders who tender Notes must also deliver consents to the proposed indenture amendments.

    Zero Coupon Convertible Notes

        The following table sets forth the unchanged pricing terms for the convertible U.S. debt securities due 2020 and 2021 of the specified issuer subject to the tender offers and consent solicitations (collectively, the "Zero Coupon Convertible Notes"):

Tyco International Ltd.

  CUSIP
  Purchase Price
per $1,000 at
Maturity

Liquid Yield Option™ Notes due 2020 (Zero Coupon-Senior)   902124AC0   $ 827.71

Tyco International Group S.A.

 

 

 

 

 
Zero Coupon Convertible Debentures due 2021   902118AW8   $ 824.83

2


        The purchase price for each $1,000 principal amount of Liquid Yield Option™ Notes due 2020 (Zero Coupon-Senior) (the "LYONs Purchase Price") is $827.71, which represents the accreted amount on the estimated payment date plus a premium of $10.00. The purchase price for each $1,000 principal amount of Zero Coupon Convertible Debentures due 2021 (the "Zero Coupon Convertible Debentures Purchase Price") is $824.83, which represents the accreted amount on the estimated payment date plus a premium of $10.00.

        Holders of the Zero Coupon Convertible Notes must tender their Zero Coupon Convertible Notes and deliver their consents by 12:00 midnight, New York City time, on May 24, 2007, unless such date is extended or earlier terminated, to be eligible to receive the LYONs Purchase Price or the Zero Coupon Convertible Debentures Purchase Price, as applicable. Holders who tender Notes must also deliver consents to the proposed indenture amendments.

        Each of the tender offers is subject to the satisfaction of certain conditions, as specified in the relevant tender offer and consent solicitation document.

        Payment in respect of the tender offers and consent solicitations will be made promptly after the Expiration Date, if the relevant notes are accepted for payment.

Information Relating to Tender Offers

        Goldman, Sachs & Co. and Morgan Stanley are the Dealer Managers for the tender offers and Solicitation Agents for the consent solicitations. Investors with questions regarding the tender offers may contact Goldman, Sachs & Co. at (212) 902-9077 or (800) 828-3182 (toll free) and Morgan Stanley at (212) 761-1941 or (800) 624-1808 (toll free). Global Bondholder Services Corporation is the Information Agent and Depositary and can be contacted at (212) 430-3774 (collect) or in relation to the tender offers and the consent solicitations, at (866) 470-3700 (toll free).

        None of Tyco or its subsidiaries referred to herein, their respective governing bodies, the Information Agent, the Depositary or the Dealer Managers make any recommendation as to whether holders of any of the notes referred to in this press release should tender or refrain from tendering or as to whether holders of such notes should provide consents to the proposed amendments. This press release does not constitute an offer to purchase any securities.

        Tyco and its subsidiaries expressly reserve the right, in their sole discretion, subject to applicable law to: (i) terminate prior to the relevant expiration date any tender offer and consent solicitation and not accept for payment any notes not theretofore accepted for payment; (ii) waive on or prior to the relevant expiration date any and all of the conditions of the tender offer and the consent solicitation; (iii) extend the relevant expiration date; and (iv) amend the terms of any tender offer or consent solicitation. The foregoing rights are in addition to their right to delay acceptance for payment of notes tendered under the relevant tender offer or the payment for notes accepted for payment in order to comply in whole or in part with any applicable law, subject to Rule 14e-1(c) under the Securities Exchange Act of 1934, as amended (the "Exchange Act") with respect to the tender offers, to the extent applicable, which requires that an offeror pay the consideration offered or return the securities deposited by or on behalf of the holders thereof promptly after the termination or withdrawal of a tender offer; and receipt of the required consents to implement the proposed amendments.

        This press release is for informational purposes only and is not an offer to buy, or the solicitation of an offer to sell, any of the notes. The full details of the tender offers for the notes, including complete instructions on how to tender notes have been included in the offer to purchase and consent solicitation statement, the letter of transmittal and related materials. Holders are strongly encouraged to read carefully the offer to purchase and consent solicitation statement, the letter of transmittal and any other related materials, including materials filed with the Securities and Exchange Commission, because they contain important information.

3



        Holders of notes may obtain a copy of the tender offer and consent solicitation statement, free of charge, from Global Bondholder Services Corporation, the information agent in connection with the tender offers and consent solicitations for the notes, by calling toll-free at (866) 470-3700 or (212) 430-3774 (bankers and brokers can call collect at 212-430-3774). Holders of notes are urged to carefully read these materials prior to making any decisions with respect to the tender offers and consent solicitations.

About Tyco

        Tyco International Ltd. is a global, diversified company that provides vital products and services to customers in four business segments: Electronics, Fire & Security, Healthcare, and Engineered Products & Services. With 2006 revenue of $41 billion, Tyco employs approximately 240,000 people worldwide. More information on Tyco can be found at www.tyco.com.

Forward-Looking Statements

        This release may contain certain forward-looking statements. These statements are based on management's current expectations and are subject to risks, uncertainty and changes in circumstances, which may cause actual results, performance or achievements to differ materially from anticipated results, performance or achievements. All statements contained herein that are not clearly historical in nature are forward-looking and the words "anticipate," "believe," "expect," "estimate," "plan," and similar expressions are generally intended to identify forward-looking statements. The forward-looking statements in this release include statements addressing the following subjects: future financial condition and operating results. Economic, business, competitive and/or regulatory factors affecting Tyco's businesses are examples of factors, among others, that could cause actual results to differ materially from those described in the forward-looking statements. Tyco is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise. More detailed information about these and other factors is set forth in Tyco's Annual Report on Form 10-K and 10-K/A for the fiscal year ended Sept. 29, 2006 and in Tyco's Quarterly Report on Form 10-Q and for the fiscal quarter ended March 30, 2007.

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