-----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, Li8RO4zUGSfQWVWCQDcc5WzonstDq0GqGSHLFC/rfnkQNu+7iFpYO+9+AfU7t1mf 4/AarDHL/Lg8/uOIx747rA== 0000893220-07-003204.txt : 20070927 0000893220-07-003204.hdr.sgml : 20070927 20070927111834 ACCESSION NUMBER: 0000893220-07-003204 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20070926 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20070927 DATE AS OF CHANGE: 20070927 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GENERAL CABLE CORP /DE/ CENTRAL INDEX KEY: 0000886035 STANDARD INDUSTRIAL CLASSIFICATION: DRAWING AND INSULATING NONFERROUS WIRE [3357] IRS NUMBER: 061398235 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-12983 FILM NUMBER: 071138320 BUSINESS ADDRESS: STREET 1: 4 TESSENEER DRIVE CITY: HIGHLAND HEIGHTS STATE: KY ZIP: 41076 BUSINESS PHONE: 8595728000 MAIL ADDRESS: STREET 1: 4 TESSENEER DRIVE CITY: HIGHLAND HEIGHTS STATE: KY ZIP: 41076 8-K 1 w39938ce8vk.htm FORM 8-K FOR GENERAL CABLE CORPORATION e8vk
 

 
 
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): September 26, 2007
General Cable Corporation
(Exact name of Registrant as Specified in Charter)
         
Delaware   001-12983   06-1398235
         
(State or Other Jurisdiction
of Incorporation)
  (Commission File Number)   (IRS Employer
Identification No.)
4 Tesseneer Drive, Highland Heights, Kentucky 41076-9753
(Address of Principal Executive Offices)
Registrant’s telephone number, including area code: (859) 572-8000
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
o   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
o   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
o   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 

 


 

Item 1.01.   Entry into a Material Definitive Agreement.
     On September 26, 2007, General Cable Corporation (the “Company”) and the subsidiaries of the Company acting as guarantors (the “Guarantors”) entered into a Purchase Agreement (the “Purchase Agreement”) pursuant to which the Company agreed to issue and sell to Merrill Lynch, Pierce, Fenner & Smith Incorporated, as the initial purchaser (the “Initial Purchaser”), $415.0 million in aggregate principal amount of 1.0% senior convertible notes due 2012 (the “Notes”). In addition, the Company granted to the Initial Purchaser an option to purchase up to an additional $60.0 million in principal amount of the Notes on the same terms and conditions as those sold in this offering.
     The Purchase Agreement includes customary representations and warranties and covenants by the Company, including indemnification and contribution covenants.
Item 8.01.   Other Events.
     On September 27, 2007, the Company issued a press release announcing the pricing of the Notes. A copy of the press release is attached as Exhibit 99.1 hereto and is incorporated herein by reference.
Item 9.01.   Financial Statements and Exhibits.
     (d) Exhibits:
  99.1   Press Release, dated September 27, 2007.

1


 

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.
         
  GENERAL CABLE CORPORATION
 
 
Date: September 26, 2007  By:   /s/ Robert J. Siverd    
    Name:   Robert J. Siverd   
    Title:   Executive Vice President,
General Counsel and Secretary 
 

2


 

INDEX TO EXHIBITS
     
Exhibit Number   Description
99.1
  Press Release, dated September 27, 2007.

3

EX-99.1 2 w39938cexv99w1.htm PRESS RELEASE exv99w1
 

Exhibit 99.1
(GENERAL CABLE LOGO)
         
CONTACT:
  Michael P. Dickerson   FOR IMMEDIATE RELEASE
 
  Vice President of Finance and   September 27, 2007
 
  Investor Relations    
 
  (859) 572-8684    
General Cable Announces Pricing of Senior Convertible Notes Due 2012
HIGHLAND HEIGHTS, KENTUCKY — September 27, 2007 — General Cable Corporation (NYSE: BGC) (the “Company”) announced today that it has entered into an agreement to sell $415 million in aggregate principal amount of its 1.0% Senior Convertible Notes due 2012 (the “Notes”). In addition, the Company has granted to the initial purchaser an option to purchase up to an additional $60 million in principal amount of the Notes on the same terms and conditions as those sold in this offering.
Interest on the Notes will be paid semiannually on October 15 and April 15 at a rate of 1.0% per year. The Notes will be convertible into the Company’s common stock at a conversion rate of 11.9142 shares per $1,000 principal amount of Notes. This conversion is equivalent to an initial conversion price of approximately $83.93 per share. This represents a 27.5% premium to $65.83 per share, which was the last reported sale price of the Company’s common stock on the New York Stock Exchange on September 26, 2007.
Prior to October 15, 2012, holders may convert their Notes under certain circumstances. On and after October 15, 2012, the notes will be convertible at any time prior to the close of business on the business day before the stated maturity date of the notes. Upon conversion of a note, if the conversion value is $1,000 or less, holders will receive an amount in cash in lieu of common stock equal to the lesser of $1,000 or the conversion value of the number of shares of common stock equal to the conversion rate. If the conversion value exceeds $1,000, in addition to this cash payment, holders will receive, at the Company’s election, cash or common stock or a combination of cash and common stock for the excess amount.
The Notes will be general unsecured obligations of the Company, and will be guaranteed on an unsecured senior basis by certain of the Company’s existing and future domestic subsidiaries.
The purpose of this offering is to fund a portion of the purchase price for the previously disclosed acquisition of the wire and cable business of Freeport-McMoRan Copper & Gold Inc. and related costs and, if such acquisition is not consummated for any reason, for general corporate purposes, which may include funding the potential expansion of our business in the United States and into foreign countries and the acquisition of other complementary businesses.
The Notes will be sold to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The Notes and the common stock issuable upon conversion of the Notes have not been registered under the Securities Act or any state securities laws, and unless so registered, may not be offered or sold in the United States

 


 

except pursuant to an exemption from the registration requirements of the Securities Act and applicable state laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of these Notes, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.
Certain statements in this press release, including, without limitation, statements regarding future financial results and performance, plans and objectives, capital expenditures and the Company’s or management’s beliefs, expectations or opinions, are forward-looking statements. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those statements as a result of factors, risks and uncertainties over which the Company has no control. Such factors include reliance on dividends and other transfers from subsidiaries to repay indebtedness; ability to service outstanding indebtedness; the Company’s failure to comply with covenants in existing and future financing arrangements; covenants contained in existing indebtedness that restrict the Company’s business operations; downgrade in the Company’s credit ratings; ability to repurchase outstanding notes; ability to pay the conversion price on convertible notes; the economic strength and competitive nature of the geographic markets that the Company serves; economic, political and other risks of maintaining facilities and selling products in foreign countries; changes in industry standards and regulatory requirements; advancing technologies, such as fiber optic and wireless technologies; volatility in the price of copper and other raw materials, as well as fuel and energy and the Company’s ability to reflect such volatility in its selling prices; interruption of supplies from the Company’s key suppliers; the failure to negotiate extensions of the Company’s labor agreements on acceptable terms; the Company’s ability to increase manufacturing capacity and achieve productivity improvements; the Company’s dependence upon distributors and retailers for non-exclusive sales of certain of the Company’s products; pricing pressures in the Company’s end markets; the Company’s ability to maintain the uncommitted accounts payable or accounts receivable financing arrangements in its European operations; the impact of any additional charges in connection with plant closures and the Company’s inventory accounting practices; the impact of certain asbestos litigation, unexpected judgments or settlements and environmental liabilities; the ability to successfully integrate the proposed acquisition and other acquisitions, costs associated with the proposed acquisition and other acquisitions; the receipt and timing of regulatory approvals for the proposed acquisition; the ability to finance the acquisition purchase price and expiration of the commitment letter; the possibility that the acquisition will not close; the reaction of customers, suppliers and competitors to the proposed acquisition; general market perception of the proposed acquisition, diversion of management attention from other business concerns due to the proposed acquisition and other acquisitions; undisclosed or unanticipated liabilities and risks resulting from the proposed acquisition; increased indebtedness resulting from the funding of the proposed acquisition; operations in additional foreign countries and political instability in such countries; the ability to successfully identify and finance other acquisitions; the impact of terrorist attacks or acts of war which may affect the markets in which the Company operates; the Company’s ability to retain key employees; the Company’s ability to service debt requirements and maintain adequate domestic and international credit facilities and credit lines; the impact on the Company’s operating results of its pension accounting practices; the Company’s ability to avoid limitations on utilization of net losses for income tax purposes; volatility in the market price of the Company’s common stock all of which are more fully discussed in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 1, 2007, as well as any current and periodic reports filed with the Commission subsequent to such date. The Company undertakes no obligation to release publicly the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
9/27/07

 

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