Standard Commercial Corporation Announces a Proposed Rule 144A Senior Note Offering
04 Marzo 2004 - 5:22PM
PR Newswire (US)
Standard Commercial Corporation Announces a Proposed Rule 144A
Senior Note Offering WILSON, N.C., March 4 /PRNewswire-FirstCall/
-- Standard Commercial Corporation today announced that it proposes
to make a Rule 144A offering of $150 million in aggregate principal
amount of senior notes due 2012. The company intends to use the
proceeds of the proposed offering to redeem all of its outstanding
8-7/8% senior notes due 2005 and all of its 7-1/4% convertible
subordinated debentures due 2007, and repay a portion of its
existing revolving credit facility. The notes are proposed to be
offered in the United States only to qualified institutional buyers
pursuant to Rule 144A under the Securities Act of 1933, as amended,
and outside the United States pursuant to Regulation S under the
Securities Act. The notes proposed to be offered have not been
registered under the Securities Act and may not be offered or sold
in the United States absent registration under, or an applicable
exemption from the registration requirements of, the Securities Act
and applicable state securities laws. This press release shall not
constitute an offer to sell or the solicitation of any offer to buy
the notes nor shall there be any offer, solicitation or sale of any
notes in any jurisdiction in which such offering would be unlawful.
The company gives no assurance that the proposed offering can be
completed on any terms. STANDARD COMMERCIAL is one of the largest
independent leaf tobacco dealers in the world and operates in over
thirty countries. Some of the statements contained in this press
release discuss the company's plans and strategies for its business
and are "forward-looking statements" as that term is defined in the
Private Securities Litigation Reform Act. The words "anticipate,"
"believe," "estimate," "expect"," plan," "intend" and similar
expressions are meant to identify these statements as
forward-looking statements, but they are not the exclusive means of
identifying them. The forward-looking statements in this press
release reflect the current views of the company's management;
however, various risks, uncertainties and contingencies could cause
the company's actual results, performance or achievements to differ
materially from those expressed or implied by these statements.
DATASOURCE: Standard Commercial Corporation CONTACT: Henry C. Babb
of Standard Commercial Corporation, +1-252-291-5507 Web site:
http://www.sccgroup.com/
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