VALLEY FORGE, Pa.--(BUSINESS WIRE)--Dec. 14, 2000--AmeriSource
Health Corporation (NYSE:AAS) today announced that the Company will
issue an additional $50 million of its Convertible Subordinated Notes
due 2007 pursuant to an option that was granted to the initial
purchasers.
An aggregate of $300 million of the notes will be outstanding
following the issuance of the additional notes. 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 $52.97 per
share. 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.
--30--DS/ph*
CONTACT: |
AmeriSource Health Corporation |
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Michael N. Kilpatric, 610/727-7118 |
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mkilpatric@amerisource.com |
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