Amcor Completes Successful Fundraising.MELBOURNE, Australia--(BUSINESS WIRE)--Nov. 14, 1996--Amcor Limited (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :AMCRY) announced today a US$200 million issue of subordinated, perpetual, convertible notes, principally to United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. investors. The notes have a coupon of 7.25% p.a. and are convertible into Amcor ordinary shares at any time up to November, 2006 at a 13.5% premium to Amcor's current share price. The notes are perpetual in nature and are non-redeemable by investors, however Amcor has the option to call the notes at any time after November, 2006. The offering was underwritten by Merrill Lynch Merrill Lynch & Co., Inc. (NYSE: MER TYO: 8675 ), through its subsidiaries and affiliates, provides capital markets services, investment banking and advisory services, wealth management, asset management, insurance, banking and related products and services on a global basis. & Company (lead- manager) and Morgan Stanley  To comply with Wikipedia's , the introduction of this article needs a complete rewrite. & Company Incorporated (sole co-
manager) and the notes are rated A3 by Moody's and A- by Standard
& Poor's.
The underwriters said the issue is the first of its type in the US capital markets by an Australian company and represents a major step forward for Australian issuers in the US market. David Meiklejohn, Amcor's Executive Director Finance & Administration, said: "Amcor is delighted with the response from investors to our first convertible note issue in the US. The issue was very well recieved and oversubscribed Refers to connecting more users to a system than can be fully supported if all of them were using it at the same time. Networks and servers are almost always designed with some amount of oversubscription, counting on the fact that everybody does not need the service simultaneously. by international investors, who are positive about Amcor's long-term growth prospects. "The proceeds of the issue will be used to repay maturing debt and the quasi-equity nature of the notes will further strengthen Amcor's balance sheet." This is Amcor's third successful transaction in the US and follows a US$200 million debt issue in 1993 and the establishment of a US$200 million commercial paper program in 1995. Copies of the prospectus may be obtained by potential investors outside Australia from Merrill Lynch & Company, World Financial Center, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . The notes are not available for subscription in Australia. Amcor is one of the world's leading integrated packaging and paper companies, with a share market capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. of more than A$4.5 billion. Amcor's principal operations are manufacturing plastic, metal and paper packaging, and paper manufacturing and distribution. CONTACT: Australia Peter Cairns Cairns, city (1991 pop. 64,463), Queensland, NE Australia, on Trinity Bay. It is a principal sugar port of Australia; lumber and other agricultural products are also exported. The city's proximity to the Great Barrier Reef has made it a tourist center. Brian Smart General Manager Group Treasurer Corporate Affairs Amcor Limited Amcor Limited Telephone: 03-9694-9282 Telephone: 03-9694-9645 or United States Kathy Liebmann Gavin Anderson & Company Telephone: 212-373-0200 |
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