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Barnes Group Inc. Note Holders Notified of Plans to Redeem Balance of 3.75 Percent Convertible Notes

Dépèche transmise le 2 mars 2011 par Business Wire

Barnes Group Inc. Note Holders Notified of Plans to Redeem Balance of 3.75 Percent Convertible Notes

Barnes Group Inc. Note Holders Notified of Plans to Redeem Balance of 3.75 Percent Convertible Notes

BRISTOL, Conn.--(BUSINESS WIRE)--Barnes Group Inc. (NYSE: B), a diversified global manufacturer and logistical services company, announced today that The Bank of New York Mellon Trust Company, N.A., trustee under the Indenture for the Company’s 3.75 percent Convertible Senior Subordinated Notes Due 2025, is providing notice to note holders that Barnes Group has exercised its right to redeem the remaining $92.5 million principal amount of the 3.75 percent Convertible Notes under the terms of the Indenture, effective April 5, 2011.

Barnes Group has elected to pay cash to holders of the 3.75 percent Convertible Notes surrendered for conversion, including the value of any residual value shares of common stock that might be payable to the holders. The Company intends to use borrowings under its senior credit facility to finance the redemption of the 3.75 percent Convertible Notes.

This press release does not constitute a notice of redemption of the 3.75 percent Convertible Notes. The redemption is being made solely pursuant to a notice of redemption dated March 2, 2011, which has been delivered to the holders of the 3.75 percent Convertible Notes by The Bank of New York Mellon Company. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any securities.

ABOUT BARNES GROUP

Barnes Group Inc. (NYSE:B) is a diversified global manufacturer and logistical services company focused on providing precision component manufacturing and operating service support. Founded in 1857, 4,900 dedicated employees at more than 60 locations worldwide are committed to achieving consistent and sustainable profitable growth. For more information, visit www.BGInc.com. Barnes Group, the Critical Components People.

This release may contain certain forward-looking statements as defined in the Private Securities Litigation and Reform Act of 1995. Forward-looking statements are made based upon management’s good faith expectations and beliefs concerning future developments and their potential effect upon the Company and can be identified by the use of words such as “anticipated,” “believe,” “expect,” “plans,” “strategy,” “estimate,” “project,” and other words of similar meaning in connection with a discussion of future operating or financial performance. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those expressed in the forward-looking statements. The risks and uncertainties, which are described in our periodic filings with the Securities and Exchange Commission, include, among others, uncertainties arising from the behavior of financial markets; future financial performance of the industries or customers that we serve; changes in market demand for our products and services; integration of acquired businesses; restructuring costs or savings; introduction or development of new products or transfer of work; changes in raw material or product prices and availability; foreign currency exposure; our dependence upon revenues and earnings from a small number of significant customers; a major loss of customers; the outcome of pending and future claims or litigation or governmental, regulatory proceedings, investigations, inquiries, and audits; uninsured claims and litigation; outcome of contingencies; future repurchases of common stock; future levels of indebtedness; and numerous other matters of global, regional or national scale, including those of a political, economic, business, competitive, environmental, regulatory and public health nature. The Company assumes no obligation to update our forward-looking statements.

Business Wire

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