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Proc-Type: 2001,MIC-CLEAR
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549
Form 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
January 23, 2001
JONES APPAREL GROUP, INC.
(Exact Name of registrant as specified in its charter)
Pennsylvania |
1-10746 |
06-0935166 |
250 Rittenhouse Circle
Bristol, PA 19007
(Address of principal executive offices)
(215) 785-4000
(Registrant's telephone number, including area code)
<PAGE> 2
Item 5. Other Events.
On January 23, 2001, the Registrant issued a press release announcing that it planned to make a private offering of $300 million to $350 million of 20-year, senior zero coupon debt securities which would be convertible into shares of the Registrant's Common Stock. A copy of the press release is filed herewith as Exhibit 20.1.
Item 7. Exhibits
20.1 Press Release of the Registrant dated January 23, 2001.
2
<PAGE> 3
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
JONES APPAREL GROUP, INC. (Registrant) By: /s/ Wesley R. Card |
Date: January 23, 2001
3
<PAGE> 4
Exhibit Index
Exhibit No. | Description |
20.1 | Press Release of the Registrant dated January 23, 2001. |
4
FOR IMMEDIATE RELEASE
Jones Apparel Group, Inc.
Contacts: Wesley R. Card, Chief Financial Officer
Anita Britt, Vice President, Finance and Investor Relations
(215) 785-4000
JONES APPAREL GROUP, INC. ANNOUNCES PLANS TO ISSUE CONVERTIBLE DEBT
NEW YORK, NEW YORK -- January 23, 2001 -- Jones Apparel Group, Inc. (NYSE: JNY) today announced that it plans to raise gross proceeds of $300 million through an offering of 20-year, zero coupon convertible senior debt securities. The securities will be convertible into common stock of the Company at a premium to be determined.
The Company has granted the initial purchasers of the securities an option to purchase additional zero coupon convertible senior debt securities to cover over-allotments, which if exercised, would provide the Company with $45 million in additional gross proceeds.
Wesley R. Card, Chief Financial Officer, stated, "We intend to use the proceeds from this offering to pay down or refinance existing debt and for general corporate purposes. The extended maturity provides us with additional financial flexibility to fund our business growth for the future."
The securities have not been and will not be registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
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