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18 November
2003
PEMBROKE, Bermuda, Nov. 18 -- Tyco International Ltd. (NYSE:
TYC,
BSX: TYC, LSE: TYI) today announced the results of its offer
to repurchase its Liquid Yield Option(TM) Notes due 2020 (Zero
Coupon-Senior) (the "LYONs"). The holders' option
to surrender their LYONs for repurchase expired at 5:00 p.m.,
New York City time, on Monday, November 17, 2003.
Tyco has been advised by the trustee, U.S. Bank National Association,
that LYONs with an aggregate principal amount at maturity of
$3,196,711,000 were validly surrendered for repurchase and not
withdrawn, and Tyco has repurchased all of such LYONs. The purchase
price for the LYONs was $775.66 in cash per $1,000 in principal
amount at maturity. The aggregate purchase price for all of
the LYONs validly surrendered for repurchase and not withdrawn
was
$2,479,560,854.26.
ABOUT TYCO INTERNATIONAL LTD.
Tyco International Ltd. is a diversified manufacturing and service
company. Tyco is the world's largest manufacturer and servicer
of electrical and electronic components; the world's largest
manufacturer, installer and provider of fire protection systems
and electronic security services; and the world's largest manufacturer
of specialty valves. Tyco also holds strong leadership positions
in medical device products, and plastics and adhesives. Tyco
operates in more than 100 countries and had fiscal 2003 revenues
from continuing operations of approximately $37 billion.
FORWARD-LOOKING STATEMENTS
This release may contain certain "forward-looking statements"
within the meaning of the United States Private Securities Litigation
Reform Act of 1995. These statements are based on management's
current expectations and are subject to risks, uncertainty and
changes in circumstances, which may cause actual results, performance
or achievements to differ materially from anticipated results,
performance or achievements. All statements contained herein
that are not clearly historical in nature are forward looking
and the words "anticipate," "believe," "expect,"
"estimate," "plan," and similar expressions
are generally intended to identify forward-looking statements.
The forward-looking statements in this release include statements
addressing the following subjects: future financial condition
and operating results. Economic, business, competitive and/or
regulatory factors affecting Tyco's businesses are examples
of factors, among others, that could cause actual results to
differ materially from those described in the forward-looking
statements.
More detailed information about these and other factors is set
forth in Tyco's Annual Report on Form 10-K for the fiscal year
ended September 30, 2002, as amended, and in Tyco's Quarterly
Report on Form 10-Q for the quarter ended June 30, 2003. Tyco
is under no obligation to (and expressly disclaims any such
obligation to) update or alter its forward-looking statements
whether as a result of new information, future events or otherwise.
CONTACTS:
Media:
Gary Holmes, 609-720-4387
Investor Relations:
Ed Arditte, 609-720-4621
John Roselli, 609-720-4624
* "Liquid Yield Option" and "LYONs" are
Trademarks of Merrill Lynch & Co., Inc.
SOURCE Tyco International Ltd.
Web Site: http://www.tyco.com
Company News On Call: Company News On-Call:
http://www.prnewswire.com/comp/897850.html
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