Agilent Technologies Announces Full Redemption of Convertible Debentures.PALO ALTO Palo Alto, city, California Palo Alto (păl`ō ăl`tō), city (1990 pop. 55,900), Santa Clara co., W Calif.; inc. 1894. Although primarily residential, Palo Alto has aerospace, electronics, and advanced research industries. , Calif. -- Agilent Technologies Inc. (NYSE NYSE See: New York Stock Exchange :A) announced today that it has called, for full redemption on Sept. 9, 2005, all of its 3 percent senior convertible debentures due 2021. As of today, the aggregate outstanding principal amount of the debentures was approximately $1.125 billion. The redemption price Redemption price See: Call price redemption price 1. The price at which an open-end investment company will buy back its shares from the owners. In most cases, the redemption price is the net asset value per share. 2. for the debentures is $1,000 per $1,000 principal amount of the debentures, plus accrued interest Accrued Interest The interest that has accumulated on a bond since the last interest payment up to but not including the settlement date. There are two methods for calculating accrued interest: 1) 360-day year method, used for corporate and municipal bonds. to, but excluding, the redemption date Redemption date The date on which a bond matures or is redeemed. redemption date The date on which a debt security is scheduled to be redeemed by the issuer. The redemption date is the scheduled maturity date or, if applicable, a call date. . Accordingly, interest will cease to accrue on all debentures after the close of business Sept. 8, 2005. Prior to 5 p.m. ET on Sept. 8, 2005, holders may elect to convert their debentures into shares of Agilent common stock. The debentures are convertible, at the option of the holder, at a conversion price of $32.22 per share. On Aug. 24, 2005, the last reported sale price of the company's common stock on The New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. was $30.15 per share. A Notice of Redemption has been sent by Citibank N.A., the trustee for the debentures, to all registered holders of the debentures. Copies of this notice and additional information related to the procedure for redemption may be obtained from Citibank N.A. by calling 800-422-2066. About Agilent Technologies Agilent Technologies Inc. (NYSE:A) is the world's premier measurement company and a technology leader in communications, electronics, life sciences and chemical analysis. The company's 28,000 employees serve customers in more than 110 countries. Agilent had net revenue of $7.2 billion in fiscal year 2004. Information about Agilent is available on the Web at www.agilent.com. Forward-Looking Statements This news release contains forward-looking statements as defined in the Securities Exchange Act of 1934 and subject to the safe harbors created therein. The forward-looking statements contained herein include, but are not limited to, information regarding the expected redemption of Agilent's debentures. These forward-looking statements involve risks and uncertainties that could cause Agilent's results to differ materially from management's current expectations. Such risks and uncertainties include, but are not limited to, risks associated with the ability to complete the redemption on a timely basis. In addition, Agilent is subject to the risks detailed in its filings with the Securities and Exchange Commission, including its Quarterly Report on Form 10-Q Form 10-Q See 10-Q. for the period ended April 30, 2005. Forward-looking statements are based on the beliefs and assumptions of Agilent's management and on currently available information. Agilent undertakes no responsibility to publicly update or revise any forward-looking statement. NOTE TO EDITORS: Further technology, corporate citizenship Corporate Citizenship The extent to which businesses are socially responsible in meeting legal, ethical and economic responsibilities placed on them by shareholders. The aim it to create higher standards of living and quality of life in the community in which it operates, while and executive news is available on the Agilent news site at www.agilent.com/go/news. |
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