VALLEY FORGE, Pa.--(BUSINESS WIRE)--Dec. 7, 2000--AmeriSource
Health Corporation (NYSE:AAS) today announced that it has offered and
priced a new issue of $250 million of Convertible Subordinated Notes
due 2007.
The notes will have an annual interest rate of 5%, payable
semi-annually, and will be convertible into Class A Common Stock of
the Company at approximately $52.97 per share. The Company may also
issue up to an additional $50 million of the notes pursuant to an
option that has been granted to the initial purchasers.
The Company intends to use the net proceeds from the sale of the
notes to repay existing borrowings, and for working capital and other
general corporate purposes. The notes will provide longer term, fixed
rate debt at a lower cost than existing debt.
The notes are being issued in a private placement and are expected
to be resold by the initial purchasers to qualified institutional
buyers under Rule 144A of the Securities Act of 1933.
The notes and the common stock issuable upon conversion of the
notes have not been registered under the Securities Act and may not be
offered or sold in the United States absent registration or an
applicable exemption from the registration requirements.
This does not constitute an offer to sell or the solicitation of
an offer to buy any security in any jurisdiction in which such offer
or sale would be unlawful.
Certain information contained in this press release includes
forward-looking statements (as defined in Section 27A of the
Securities Act and Section 21E of the Exchange Act) that reflect the
Company's current views with respect to future events and financial
performance.
Certain factors such as competitive pressures, success of
restructuring or systems initiatives, market interest rates,
regulatory changes, continued industry consolidation, changes in
customer mix, changes in pharmaceutical manufacturers' pricing and
distribution policies, changes in U.S. government policies, customer
insolvencies, the loss of one or more key customer or supplier
relationships and other matters contained in the Company's 10-K for
fiscal year 1999 and other public documents could cause actual results
to differ materially from those in the forward-looking statements.
The Company assumes no obligation to update the matters discussed
in this press release.
CONTACT: |
AmeriSource |
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Michael N. Kilpatric, 610/727-7199 |
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mkilpatric@amerisource.com |
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