LIONVILLE, Pa., March 8 /PRNewswire-FirstCall/ -- West Pharmaceutical Services, Inc. , a global manufacturer of closure systems and syringe components for use with injectable drugs, today announced that it intends to offer, subject to market and other conditions, $150 million in aggregate principal amount of Convertible Junior Subordinated Debentures due 2047 in an underwritten public offering, pursuant to a registration statement filed with the Securities and Exchange Commission. In addition, the Company intends to grant the underwriters a 30 day option to purchase up to an additional $22.5 million of notes to cover over-allotments.
Net proceeds of the offering are expected to be used for general corporate purposes, which may include capital expenditures, working capital, possible acquisitions of other businesses, technologies or products, repaying debt, and potentially repurchasing our capital stock.
About the Offering
UBS Investment Bank is sole book running lead manager for the offering. Bank of America Securities LLC and Wachovia Securities are acting as co- managers for the offering.
The Company has filed a registration statement, a prospectus and a preliminary prospectus supplement relating to this offering with the Securities and Exchange Commission and these are available on the SEC's website at http://www.sec.gov. Before you invest, you should read the prospectus and other documents the company has filed with the SEC for more complete information about the Company and this offering. Copies of the prospectus and preliminary prospectus supplement may also be obtained from UBS Investment Bank, Attention: Prospectus Department, 299 Park Avenue, New York, New York, 10171, or by calling UBS Investment Bank at (888) 827-7275 or from the Company.
This press release does not constitute an offer to sell or solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About West Pharmaceutical Services, Inc.
West Pharmaceutical Services, Inc. is a global manufacturer of components and systems for injectable drug delivery, including stoppers and seals for vials, and closures and disposable components used in syringe, IV and blood collection systems. The Company also provides products with application to the personal care, food and beverage markets. Headquartered in Lionville, Pennsylvania, West Pharmaceutical Services supports its partners and customers from 50 locations throughout North America, South America, Europe, Mexico, Japan, Asia and Australia.
Contacts: Investors/Financial Media: West Pharmaceutical Services, Inc. Financial Dynamics Michael A. Anderson Julie Huang/Theresa Kelleher Vice President and Treasurer (212) 850-5600 (610) 594-3345 wst@fd-us.com
West Pharmaceutical Services, Inc.CONTACT: Michael A. Anderson, Vice President and Treasurer, WestPharmaceutical Services, Inc., +1-610-594-3345; or Julie Huang or TheresaKelleher of Financial Dynamics, Investors/Financial Contact,+1-212-850-5600, wst@fd-us.com
Web site: http://www.westpharma.com/
