Jabil to Issue $250 Million of Senior Unsecured Notes
11 January 2008
St. Petersburg, FL
St. Petersburg, FL – January 11, 2008 – Jabil Circuit, Inc. (NYSE:JBL) announced today that it has priced an offering of $250 million principal amount of its 8.25% senior unsecured notes due 2018. The Senior Notes will be issued at a price of 99.965 percent of par and will mature on March 15, 2018. The terms of the notes include an interest rate adjustment provision that provides that the interest rate on the notes will be subject to adjustment upon the occurrence of certain specified changes in one or more of the ratings of Jabil's debt securities. The net proceeds from the sale of the notes will be used to repay a portion of Jabil's outstanding borrowings under the revolving credit portion of its five year unsecured credit facility. The transaction is expected to close on January 16, 2008.
The notes have been offered only to qualified institutional buyers in reliance on Rule 144A, under the Securities Act of 1933, as amended, and in offshore transactions pursuant to Regulation S under the Securities Act. 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 registration requirements.
This press release does not constitute an offer to sell or the solicitation of an offer to buy securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act of 1933.
This news release contains forward-looking statements, including those regarding our closing the subsequent merger with Taiwan Green Point, Taiwan Green Point operating as an independent business unit and our marketing our integrated services and other statements. These statements are based on current expectations, forecasts and assumptions involving risks and uncertainties that could cause actual outcomes and results to differ materially. These risks and uncertainties include, but are not limited to: our ability to successfully address the challenges associated with integrating the acquisition; our ability to take advantage of perceived benefits of offering customers our expanded services after the acquisition; the finalization of our fiscal year 2006 financial statements and the audit thereof and the results of the review of our past stock option grants being conducted by a Special Committee of our Board and Governmental Authorities and the review of historical recognition of certain revenues by our Audit Committee; whether our announced realignment of certain of our capacities will adversely affect our cost structure, ability to service customers and labor relations; our ability to take advantage of perceived benefits of offering customers vertically integrated services; our ability to effectively address certain operational issues that have adversely affected certain of our operations; changes in technology; competition; managing rapid growth; risks associated with international sales and operations; retaining key personnel; our dependence on a limited number of large customers; business and competitive factors generally affecting the electronic manufacturing services industry, our customers and our business; other factors that we may not have currently identified or quantified; and other risks, relevant factors and uncertainties identified in our Annual Report on Form 10-K for the fiscal year ended August 31, 2005, subsequent Reports on Form 10-Q and Form 8-K and our other securities filings. We disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.