PROVIDENCE, R.I.--(BUSINESS WIRE)--Mar. 30, 2012--
Textron Inc. (NYSE: TXT) (“Textron”) announced today that its 4.5%
Convertible Senior Notes due 2013 (CUSIP #883203BN0) (the “Notes”) will
be convertible at the option of the holders through June 30, 2012, the
last day of the second calendar quarter, as provided in the Indenture,
dated as of September 10, 1999, between Textron and The Bank of New York
Mellon Trust Company, N.A., as Trustee, as supplemented by the
Supplemental Indenture, dated as of May 5, 2009 (the “Indenture”).
The Notes will be convertible because Textron’s common stock price
exceeded the conversion threshold price of $17.06 per share (130 percent
of the applicable conversion price of $13.125 per share) for at least 20
trading days during the 30 consecutive trading days ending March 30,
As a result, during the second calendar quarter, holders of the Notes
may elect to convert some or all of their Notes. Whether the Notes will
be convertible at any time after June 30, 2012 will depend on whether
any of the conversion conditions specified in the Indenture are
satisfied, including whether the price of Textron’s common stock exceeds
the conversion threshold price for the requisite number of trading days
during subsequent quarters.
The Company may deliver shares of common stock, cash or a combination of
cash and shares of common stock in satisfaction of its obligations upon
conversion of the Notes.
Holders of Notes may obtain further information on how to convert their
Notes by contacting the conversion agent at the following address:
Bank of New York Mellon Corporation
Street - 7 East
New York, N.Y. 10286
This press release is for informational purposes only and does not
constitute an offer to buy or the solicitation of an offer to sell any
Notes or Textron’s common stock.
About Textron Inc.
Textron is a multi-industry company that leverages its global network of
aircraft, defense, industrial and finance businesses to provide
customers with innovative solutions and services. Textron is known
around the world for its powerful brands such as Bell Helicopter, Cessna
Aircraft Company, Jacobsen, Kautex, Lycoming, E-Z-GO, Greenlee and
Textron Systems. More information is available at www.textron.com.
Source: Textron Inc.