| NEW YORK, Oct 02, 2009 (BUSINESS WIRE) -- L-3 Communications Holdings, Inc. (NYSE: LLL) announced today that L-3
Communications Corporation, its wholly owned subsidiary, has initiated a
full redemption of its outstanding $750 million 7 5/8% Senior Subordinated
Notes due in 2012 (the "Notes"). All Notes will be redeemed on November
2, 2009, at a redemption price of 101.271% of the principal amount
thereof, plus accrued and unpaid interest to November 2, 2009. On or
before November 2, 2009, the Notes should be presented to The Bank of
New York Mellon, as paying agent for the redemption, at the address set
forth in the Notice of Redemption. The Notice of Redemption was sent to
all registered holders on October 2, 2009.
Interest on the Notes will cease to accrue on and after November 2, 2009
and the only remaining right of holders of the Notes is to receive
payment of the redemption price upon surrender to the paying agent, plus
accrued and unpaid interest up to, but not including, November 2, 2009.
In connection with the redemption of the Notes, the company will record
a noncash debt retirement charge in the fourth quarter of 2009 of
approximately $9.2 million ($5.6 million after income tax) or $0.05 per
diluted share.
This press release shall not constitute a notice of redemption of the
Notes.
Headquartered in New York City, L-3 employs over 66,000 people worldwide
and is a prime contractor in aircraft modernization and maintenance, C3ISR
(Command, Control, Communications, Intelligence, Surveillance and
Reconnaissance) systems and government services. L-3 is also a leading
provider of high technology products, subsystems and systems. The
company reported 2008 sales of $14.9 billion.
To learn more about L-3, please visit the company's Web site at www.L-3com.com.
L-3 uses its Web site as a channel of distribution of material company
information. Financial and other material information regarding L-3 is
routinely posted on the company's Web site and is readily accessible.
Safe Harbor Statement Under the Private Securities Litigation Reform
Act of 1995
Except for historical information contained herein, the matters set
forth in this news release are forward-looking statements. Statements
that are predictive in nature, that depend upon or refer to events or
conditions or that include words such as "expects," "anticipates,"
"intends," "plans," "believes," "estimates," "will," "could" and similar
expressions are forward-looking statements. The forward-looking
statements set forth above involve a number of risks and uncertainties
that could cause actual results to differ materially from any such
statement, including the risks and uncertainties discussed in the
company's Safe Harbor Compliance Statement for Forward-looking
Statements included in the company's recent filings, including Forms
10-K and 10-Q, with the Securities and Exchange Commission. The
forward-looking statements speak only as of the date made, and the
company undertakes no obligation to update these forward-looking
statements.
SOURCE: L-3 Communications Holdings, Inc.
L-3 Communications
Corporate Communications
212-697-1111
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