SAN JOSE, Calif., Sept. 8, 2014 /PRNewswire/ -- Sanmina
Corporation ("Sanmina" or the "Company") (NASDAQ GS: SANM) is
calling for redemption on October 8,
2014, all of its outstanding 7% Senior Notes due 2019 (the
"Notes"). The aggregate principal amount of the Notes
currently outstanding is approximately $100,000,000. The CUSIP numbers for the
Notes being called for redemption are 800907AQ0 and
U80024AE9. Upon redemption, holders of the Notes being
redeemed will receive $1,052.50 per
$1,000 principal amount of Notes,
plus accrued and unpaid interest on the Notes being redeemed to,
but excluding, the redemption date.
The redemption is anticipated to be funded with existing cash or
borrowings under the Company's credit facility.
A Notice of Redemption is being mailed to all registered holders
of the Notes. Copies of the Notice of Redemption may be
obtained from U.S. Bank National Association, the Paying Agent, by
calling (800) 934-6802.
In addition, the Company announced that its Board of Directors
has authorized an additional stock repurchase program of up to
$100 million worth of the Company's
common stock. The new program will take effect upon completion of
the Company's current program. As of today, approximately
$25 million remains available under
the current program approved by the Board in March 2013.
The new stock repurchase program has no expiration date. The
timing of stock repurchases and the number of shares will depend
upon market conditions and other factors. Share repurchases, if
any, will be made in the open market, through Rule 10b5-1 programs
or in negotiated transactions off the market. Repurchases under the
program may be commenced or suspended at any time without prior
notice.
About Sanmina
Sanmina is a leading global provider of
integrated manufacturing solutions, components, products and
repair, logistics and after-market services. Sanmina provides
these comprehensive offerings primarily to original equipment
manufacturers, in the following industries: communications
networks, computing and storage, multimedia, industrial and
semiconductor capital equipment, defense and aerospace, medical,
clean technology and automotive. More information regarding
Sanmina is available at www.sanmina.com.
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SOURCE Sanmina Corporation