Hubbell prices tender for 6.375% notes due 2012

By Marisa Wong

Madison, Wis., Nov. 16 - Hubbell Inc. said it priced the previously announced cash tender offer for any and all of its outstanding 6.375% notes due 2012.

The offer began on Nov. 8 and is scheduled expire at 5 p.m. ET on Nov. 16.

Hubbell will pay holders $1,085.32 per $1,000 principal amount of notes.

The purchase price was determined using a fixed spread of 20 basis points over the 0.43% bid-side yield to maturity of the 1.375% U.S. Treasury notes due May 15, 2012, calculated by the dealer managers at 2 p.m. ET on Nov. 16.

In addition to the purchase price, Hubbell will pay accrued interest up to but excluding the settlement date, which is expected to be Nov. 17.

The tender offer is subject to the satisfaction of certain conditions, including the settlement of a new issue of senior notes.

As previously reported, Hubbell plans to redeem any notes remaining after the offer.

J.P. Morgan Securities LLC (866 384-4666 or collect 212 834-3424) and Wells Fargo Securities, LLC (866 309-6316 or collect 704 715-8339) are the dealer managers, and D.F. King & Co. (800 628-8536) is the depositary and information agent.

The electrical and electronic products company is based in Shelton, Conn.

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