Tiffany & Co. Completes Exchange Offer
May 14 2015 - 4:15PM
Business Wire
Tiffany & Co. (the “Company” or “Tiffany & Co.”)
(NYSE:TIF) announced today the final results of its previously
announced offer to exchange (the “Exchange Offer”) up to (i)
$250,000,000 aggregate principal amount of its outstanding
$250,000,000 unregistered 3.800% Senior Notes due 2024 (the “2024
Outstanding Notes”) for a like principal amount of its new
$250,000,000 3.800% Senior Notes due 2024 (the “2024 Exchange
Notes”), and (ii) $300,000,000 aggregate principal amount of its
outstanding $300,000,000 unregistered 4.900% Senior Notes due 2044
(the “2044 Outstanding Notes” and, together with the 2024
Outstanding Notes, the “Outstanding Notes”) for a like principal
amount of its new $300,000,000 4.900% Senior Notes due 2044 (the
“2044 Exchange Notes” and, together with the 2024 Exchange Notes,
the “Exchange Notes”).
The Exchange Offer expired at 5:00 pm, EDT, on May 8, 2015. As
of the expiration date, tenders of $246,750,000 of the 2024
Outstanding Notes and $299,970,000 of the 2044 Outstanding Notes
had been received. Tiffany & Co. accepted all of the
Outstanding Notes tendered in exchange for the Exchange Notes and
settlement occurred on May 14, 2015.
This news release shall not constitute an offer to sell or a
solicitation of an offer to purchase the Exchange Notes or any
other securities, and shall not constitute an offer, solicitation
or sale in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful.
Tiffany is the internationally-renowned jeweler founded in New
York in 1837. Through its subsidiaries, Tiffany & Co.
manufactures products and operates TIFFANY & CO. retail stores
worldwide, and also engages in direct selling through Internet,
catalog and business gift operations. For additional information,
please visit www.tiffany.com or call
our shareholder information line at 800-TIF-0110.
Cautionary Note Regarding Forward-Looking Statements
This news release contains certain “forward-looking statements”
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934 concerning,
among other matters, the Company’s intention to offer its
notes.
These forward-looking statements generally are indicated by
words such as “intends,” “plans,” “expects” and other words and
terms of similar meaning and expression in connection with any
discussion of future actions. One can also identify forward-looking
statements by the fact that they do not relate strictly to
historical or current facts. Such statements are based on
management’s current plans and involve inherent risks,
uncertainties and assumptions that could cause actual outcomes to
differ materially from current goals, plans and expectations. The
Company has disclosed important factors that it believes could
cause actual results to differ materially from any forward-looking
statements in the cautionary statements included in its 2015 Annual
Report on Form 10-K, particularly under “Item 1A. Risk
Factors.”
Although the Company believes it has been prudent in developing
its plans, no assurance can be given that any goal or expectation
set forth in forward-looking statements can or will be achieved,
and readers are cautioned not to place undue reliance on such
statements which speak only as of the date of this news release.
The Company undertakes no obligation to update any of the
forward-looking information included in this news release, whether
as a result of new information, future events, changes in
expectations or otherwise.
Tiffany & Co.Mark L. Aaron, (212) 230-5301mark.aaron@tiffany.com
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