BELOIT, Wis., July 14, 2011 /PRNewswire/ -- Regal Beloit
Corporation (NYSE: RBC) today announced it has issued $423 million in senior unsecured notes in a
private placement, and anticipates issuing an additional
$77 million in senior unsecured notes
in the near term. The notes, which will be issued in a total
of seven tranches, have maturities from seven to twelve years and
carry fixed interest rates between 4.09% to 5.09%. The
proceeds from the issuance of the notes will be available to
finance the pending acquisition of the Electrical Products Company
from A.O. Smith Corporation. Terms and conditions of the private
placement will be described in the Company's filings with the
Securities and Exchange Commission.
Regal Beloit Corporation is a leading manufacturer of electric
motors, mechanical and electrical motion controls and power
generation products serving markets throughout the world.
Regal Beloit is headquartered in Beloit, Wisconsin, and has manufacturing,
sales, and service facilities throughout the United States, Canada, Mexico, Europe and Asia. Regal Beloit's common stock is a
component of the S&P Mid Cap 400 Index and the Russell 2000
Index.
CAUTIONARY STATEMENT
The following is a cautionary statement made under the Private
Securities Litigation Reform Act of 1995: With the exception of
historical facts, the statements contained in this press release
may be forward looking statements. Forward-looking statements
represent our management's judgment regarding future events.
In many cases, you can identify forward-looking statements by
terminology such as "may," "will," "plan," "expect," "anticipate,"
"estimate," "believe," or "continue" or the negative of these terms
or other similar words. Actual results and events could
differ materially and adversely from those contained in the
forward-looking statements due to a number of factors, including:
actions taken by our competitors and our ability to effectively
compete in the increasingly competitive global electric motor,
power generation and mechanical motion control industries; our
ability to develop new products based on technological innovation
and the marketplace acceptance of new and existing products;
fluctuations in commodity prices and raw material costs; our
dependence on significant customers; issues and costs arising from
the integration of acquired companies and businesses, including the
timing and impact of purchase accounting adjustments; difficulties
consummating the pending acquisition of the Electrical Products
Company of A.O. Smith Corporation that may have a negative impact
on our results of operations; our dependence on key suppliers and
the potential effects of supply disruptions; infringement of our
intellectual property by third parties, challenges to our
intellectual property, and claims of infringement by us of third
party technologies; increases in our overall debt levels as a
result of acquisitions or otherwise and our ability to repay
principal and interest on our outstanding debt; product liability
and other litigation, or the failure of our products to perform as
anticipated, particularly in high volume applications; economic
changes in global markets where we do business, such as reduced
demand for the products we sell, currency exchange rates, inflation
rates, interest rates, recession, foreign government policies and
other external factors that we cannot control; unanticipated
liabilities of acquired businesses; cyclical downturns affecting
the global market for capital goods; difficulties associated with
managing foreign operations; and other risks and uncertainties
including but not limited to those described in Item 1A-Risk
Factors of the Company's Annual Report on Form 10-K filed on
March 2, 2011 and from time to time
in our reports filed with U.S. Securities and Exchange Commission.
All subsequent written and oral forward-looking statements
attributable to us or to persons acting on our behalf are expressly
qualified in their entirety by the applicable cautionary
statements. The forward-looking statements included in this
presentation are made only as of their respective dates, and we
undertake no obligation to update these statements to reflect
subsequent events or circumstances.
SOURCE Regal Beloit Corporation