JLG Industries, Inc. (NYSE:JLG) today set the pricing for its
previously announced cash tender offers and consent solicitations
in respect of its outstanding 8 1/4% Senior Notes due 2008 (the
�2008 Notes�) and its 8 3/8% Senior Subordinated Notes due 2012
(the �2012 Notes,� and, together with the 2008 Notes, the �Notes�).
The terms of the tender offers and consent solicitations for the
Notes are detailed in JLG�s Offer to Purchase and Consent
Solicitation Statement dated November 6, 2006. The total
consideration for the 2008 Notes was determined as of 2:00 p.m.,
New York City time, on November 21, 2006, assuming a payment date
of December 6, 2006 and using the yield of the 4 7/8% U.S. Treasury
Note due April 30, 2008 (the �2008 Reference Security�) plus a
fixed spread of 50 basis points. The yield on the 2008 Reference
Security, as calculated by J.P. Morgan Securities Inc. and Banc of
America Securities LLC, was 4.873%. Accordingly, the total
consideration, excluding accrued and unpaid interest, for each
$1,000 principal amount of 2008 Notes validly tendered and not
withdrawn at or prior to 5:00 p.m., New York City time, on November
21, 2006 (the �Consent Deadline�) is $1,038.29, which includes a
consent payment of $30. The tender offer consideration, excluding
accrued and unpaid interest, for each $1,000 principal amount of
2008 Notes validly tendered after the Consent Deadline but at or
prior to midnight, New York City time, December 5, 2006 (the
�Expiration Time�) is $1,008.29, which equals the total
consideration less the consent payment. The total consideration for
the 2012 Notes was determined as of 2:00 p.m., New York City time,
on November 21, 2006, assuming a payment date of December 6, 2006
and using the yield of the 3 1/2% U.S. Treasury Note due May 31,
2007 (the �2012 Reference Security�) plus a fixed spread of 50
basis points. The yield on the 2012 Reference Security, as
calculated by J.P. Morgan Securities Inc. and Banc of America
Securities LLC, was 5.096%. Accordingly, the total consideration,
excluding accrued and unpaid interest, for each $1,000 principal
amount of 2012 Notes validly tendered and not withdrawn at or prior
to the Consent Deadline is $1,054.84, which includes a consent
payment of $30. The tender offer consideration, excluding accrued
and unpaid interest, for each $1,000 principal amount of 2012 Notes
validly tendered after the Consent Deadline but at or before the
Expiration Time is $1,024.84, which equals the total consideration
less the consent payment. The tender offers are scheduled to expire
at midnight New York City time on December 5, 2006, unless extended
or earlier terminated by JLG. The information agent for the offers
and consent solicitations is Innisfree M&A Incorporated. The
depositary for the offers is The Bank of New York. The dealer
managers for the offers and consent solicitation agents for the
consent solicitations are J.P. Morgan Securities Inc. ((212)
270-3994, call collect) and Banc of America Securities LLC ((704)
388-9217, call collect). The Offer to Purchase, letter of
transmittal and consent and related documents have been distributed
to noteholders. Noteholders with questions or who would like
additional copies of the offer documents may call the information
agent, Innisfree M&A Incorporated, toll-free at (888) 750-
5834. (Banks and brokers may call collect at (212) 750-5833.) JLG
Industries, Inc. is the world�s leading producer of access
equipment (aerial work platforms and telehandlers). JLG�s diverse
product portfolio encompasses leading brands such as JLG� aerial
work platforms; JLG, SkyTrak�, Lull� and Gradall� telehandlers; and
an array of complementary accessories that increase the versatility
and efficiency of these products for end users. JLG markets its
products and services through a multichannel approach that includes
a highly trained sales force and utilizes a broad range of
marketing techniques, integrated supply programs and a network of
distributors in the industrial, commercial, institutional and
construction markets. In addition, JLG offers world-class
after-sales service and support for its customers. JLG�s
manufacturing facilities are located in the United States, Belgium,
and France, with sales and service operations on six continents.
This press release is for informational purposes only and does not
constitute an offer to buy or the solicitation of an offer to sell
JLG�s 8 1/4% senior notes due 2008 or its 8 3/8% senior
subordinated notes due 2012. The offers and the consent
solicitations are being made only pursuant to the offer to purchase
and consent solicitation statement, letter of transmittal and
consent and related materials that JLG has distributed to
noteholders. Noteholders and investors should read carefully the
offer to purchase and consent solicitation statement, letter of
transmittal and consent and related materials because they contain
important information, including the various terms of and
conditions to, the offers and the consent solicitations. None of
JLG, Oshkosh, the dealer managers, the information agent or the
depositary makes any recommendation in connection with the offers
or the consent solicitations. NOTE: Information contained on our
website is not incorporated by reference into this press release.
JLG Industries, Inc. (NYSE:JLG) today set the pricing for its
previously announced cash tender offers and consent solicitations
in respect of its outstanding 8 1/4% Senior Notes due 2008 (the
"2008 Notes") and its 8 3/8% Senior Subordinated Notes due 2012
(the "2012 Notes," and, together with the 2008 Notes, the "Notes").
The terms of the tender offers and consent solicitations for the
Notes are detailed in JLG's Offer to Purchase and Consent
Solicitation Statement dated November 6, 2006. The total
consideration for the 2008 Notes was determined as of 2:00 p.m.,
New York City time, on November 21, 2006, assuming a payment date
of December 6, 2006 and using the yield of the 4 7/8% U.S. Treasury
Note due April 30, 2008 (the "2008 Reference Security") plus a
fixed spread of 50 basis points. The yield on the 2008 Reference
Security, as calculated by J.P. Morgan Securities Inc. and Banc of
America Securities LLC, was 4.873%. Accordingly, the total
consideration, excluding accrued and unpaid interest, for each
$1,000 principal amount of 2008 Notes validly tendered and not
withdrawn at or prior to 5:00 p.m., New York City time, on November
21, 2006 (the "Consent Deadline") is $1,038.29, which includes a
consent payment of $30. The tender offer consideration, excluding
accrued and unpaid interest, for each $1,000 principal amount of
2008 Notes validly tendered after the Consent Deadline but at or
prior to midnight, New York City time, December 5, 2006 (the
"Expiration Time") is $1,008.29, which equals the total
consideration less the consent payment. The total consideration for
the 2012 Notes was determined as of 2:00 p.m., New York City time,
on November 21, 2006, assuming a payment date of December 6, 2006
and using the yield of the 3 1/2% U.S. Treasury Note due May 31,
2007 (the "2012 Reference Security") plus a fixed spread of 50
basis points. The yield on the 2012 Reference Security, as
calculated by J.P. Morgan Securities Inc. and Banc of America
Securities LLC, was 5.096%. Accordingly, the total consideration,
excluding accrued and unpaid interest, for each $1,000 principal
amount of 2012 Notes validly tendered and not withdrawn at or prior
to the Consent Deadline is $1,054.84, which includes a consent
payment of $30. The tender offer consideration, excluding accrued
and unpaid interest, for each $1,000 principal amount of 2012 Notes
validly tendered after the Consent Deadline but at or before the
Expiration Time is $1,024.84, which equals the total consideration
less the consent payment. The tender offers are scheduled to expire
at midnight New York City time on December 5, 2006, unless extended
or earlier terminated by JLG. The information agent for the offers
and consent solicitations is Innisfree M&A Incorporated. The
depositary for the offers is The Bank of New York. The dealer
managers for the offers and consent solicitation agents for the
consent solicitations are J.P. Morgan Securities Inc. ((212)
270-3994, call collect) and Banc of America Securities LLC ((704)
388-9217, call collect). The Offer to Purchase, letter of
transmittal and consent and related documents have been distributed
to noteholders. Noteholders with questions or who would like
additional copies of the offer documents may call the information
agent, Innisfree M&A Incorporated, toll-free at (888) 750-
5834. (Banks and brokers may call collect at (212) 750-5833.) JLG
Industries, Inc. is the world's leading producer of access
equipment (aerial work platforms and telehandlers). JLG's diverse
product portfolio encompasses leading brands such as JLG(R) aerial
work platforms; JLG, SkyTrak(R), Lull(R) and Gradall(R)
telehandlers; and an array of complementary accessories that
increase the versatility and efficiency of these products for end
users. JLG markets its products and services through a multichannel
approach that includes a highly trained sales force and utilizes a
broad range of marketing techniques, integrated supply programs and
a network of distributors in the industrial, commercial,
institutional and construction markets. In addition, JLG offers
world-class after-sales service and support for its customers.
JLG's manufacturing facilities are located in the United States,
Belgium, and France, with sales and service operations on six
continents. This press release is for informational purposes only
and does not constitute an offer to buy or the solicitation of an
offer to sell JLG's 8 1/4% senior notes due 2008 or its 8 3/8%
senior subordinated notes due 2012. The offers and the consent
solicitations are being made only pursuant to the offer to purchase
and consent solicitation statement, letter of transmittal and
consent and related materials that JLG has distributed to
noteholders. Noteholders and investors should read carefully the
offer to purchase and consent solicitation statement, letter of
transmittal and consent and related materials because they contain
important information, including the various terms of and
conditions to, the offers and the consent solicitations. None of
JLG, Oshkosh, the dealer managers, the information agent or the
depositary makes any recommendation in connection with the offers
or the consent solicitations. NOTE: Information contained on our
website is not incorporated by reference into this press release.
Jlg (NYSE:JLG)
Historical Stock Chart
From Jul 2024 to Aug 2024
Jlg (NYSE:JLG)
Historical Stock Chart
From Aug 2023 to Aug 2024