B/E Aerospace tenders, solicits consents for all 5¼%, 6 7/8% notes

New York, Nov. 28 – B/E Aerospace, Inc. announced cash tender offers for its $1.3 billion of 5¼% senior notes due 2022 and its $650 million of 6 7/8% senior notes due 2020.

The company is also soliciting consents to amend the note indentures in order to eliminate most of the restrictive covenants and certain default provisions, according to a news release.

For the 5¼% notes, B/E is offering $1,120.96 per $1,000 principal amount and for the 6 7/8% notes the price is $1,083.35 per $1,000 principal amount.

Both figures include a $30 per $1,000 consent payment for notes tender by the consent deadline of 5 p.m. ET on Dec. 11. Those who tender after the consent deadline will not receive the consent payment.

B/E will also pay accrued interest up to but excluding the settlement date.

The tender ends on Dec. 26 at 11:59 p.m. ET.

Holders who tender will be deemed to have delivered consents and consents may not be delivered without tendering.

The offer is subject to conditions including the receipt of sufficient proceeds from a new term loan and a $750 million cash distribution from KLX Inc. as part of the spin off of KLX.

B/E needs consents from holders of a majority of each series of the notes in order to amend the indenture for that issue of notes.

J.P. Morgan Securities LLC is dealer manager (800 245-8812 or 212 270-1200). Ipreo is information agent (212 849-3880 or 888 593-9546).

B/E Aerospace is a Wellington, Fla., manufacturer of aircraft cabin interior products and provider of aerospace fasteners, consumables and logistics services.

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