Jabil Circuit gets tenders for 98.3% of its $300 million 5 7/8% notes

By Susanna Moon

Chicago, Aug. 25 - Jabil Circuit, Inc. said it completed the tender offer for its $300 million 5 7/8% senior notes due 2010.

The offer expired at midnight ET on Monday, and no additional notes were tendered after the early tender date.

The company said on Aug. 11 that holders had tendered $294.9 million principal amount, or 98.3%, of the 5 7/8% notes as of 5 p.m. ET on Aug. 10, the early tender deadline. The offer began July 28.

All of the tendered notes were accepted and purchased. The purchase was funded with cash on hand and proceeds from Jabil Circuit's recent offering of $312 million 7¾% senior unsecured notes due 2016.

The purchase price is $1,031.25 for each $1,000 principal amount of notes, which includes an early tender premium of $31.25 for each note tendered by the early tender deadline.

Holders also received accrued interest up to but excluding the payment date.

J.P. Morgan Securities Inc. (800 245-8812 or 212 270-3994), Citigroup Global Markets Inc. (800 558-3745 or 212 723-6106) and RBS Securities Inc. (877 297-9832 or 203 897-6145) are the dealer managers, and Ipreo (call Aaron Dougherty at 877 746-3583) is the information agent.

Jabil Circuit is an electronic product solutions company based in St. Petersburg, Fla.

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