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MOOG INC. ANNOUNCES CLOSING OF SALE OF SENIOR SUBORDINATED NOTES
11 January 2005 - Moog Controls
| Moog Inc. announced today that it has closed its public offering of $150 million aggregate principal amount of its 6¼% senior subordinated notes due 2015. The net proceeds to Moog from the offering were approximately $147 million and will be used to repay indebtedness under its bank credit facility. All of the 6¼% senior subordinated notes were offered by Moog pursuant to a prospectus supplement under Moog's existing shelf registration statement. |
Moog Inc. announced today that it has closed its public offering of $150 million aggregate principal amount of its 6¼% senior subordinated notes due 2015. The net proceeds to Moog from the offering were approximately $147 million and will be used to repay indebtedness under its bank credit facility. All of the 6¼% senior subordinated notes were offered by Moog pursuant to a prospectus supplement under Moog's existing shelf registration statement. Banc of America Securities LLC acted as the sole manager for the offering. Moog Inc. is a worldwide designer, manufacturer, and integrator of precision control components and systems. Moog's high-performance systems control military and commercial aircraft, satellites and space vehicles, launch vehicles, missiles, automated industrial machinery, and medical equipment.
http://www.moog.co.uk
About: Moog Controls
Moog Controls started life in the UK in October 1965 as Moog Hydra-Point, based in Cheltenham, England. This new subsidiary was set up to manufacture and market the Moog Hydra-Point machines in the UK, South Africa and European common market.Nearly 40 years later, not only does MCL manufacture a suite of products for motion control applications, they are also active in the design and development of new and innovative solutions for precision control problems. Our team of highly skilled engineers can provide project support to assist our customers in the performance of a wide variety of applications including, motion simulators for training and entertainment, industrial gas turbine controls, plastics machinery controls, heavy industry, metal forming & pressing, and commercial and military ground vehicle controls. All Moog subsidiaries are represented by regional sales engineers backed by comprehensive product and engineering support teams. Add to this the global presence of Moog and you are ensured a competent partner to deliver and service you and your customers needs. MCL employs over 270 people on its Tewkesbury site, accommodated in 3 buildings, producing over 21,500 servovalves per annum. |
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