Bell Sports Enters Into an Agreement for High Yield Financing.SAN JOSE San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , Calif.--(BUSINESS WIRE)--Aug. 11, 1998--Bell Sports Corp. (Nasdaq: BSPT BSPT Bachelor of Science in Physical Therapy BSPT British Standard Taper Pipe Thread BSPT Bachelor of Science in Physics for Teachers and BSPTG) announced today that its direct, wholly-owned subsidiary, Bell Sports, Inc. has entered into an agreement to issue (the "Offering") $110,000,000 aggregate principal amount of 11.00% Senior Subordinated Notes due 2008 (the "Notes") pursuant to a private placement, which will not be registered under the Securities Act of 1933, as amended. The Notes may not be offered or sold in the 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. absent registration or an applicable exemption from registration requirements. Interest on the Notes will be payable semi-annually, in arrears Adv. 1. in arrears - in debt; "he fell behind with his mortgage payments"; "a month behind in the rent"; "a company that has been run behindhand for years"; "in arrears with their utility bills" behindhand, behind , in cash on August 15 and February 15, commencing on February 15, 1999. The consummation of the Offering is a condition precedent condition precedent n. 1) in a contract, an event which must take place before a party to a contract must perform or do their part. 2) in a deed to real property, an event which has to occur before the title (or other right) to the property will actually be in the to the consummation of Bell Sports Corp.'s offer to purchase up to $62.5 million of its 41/4% Convertible Subordinated Debentures due 2000 dated June 30, 1998. Certain matters within this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 and as such may involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Bell Sports Corp. to be different from any future results, performance or achievements expressed or implied by such forward-looking statements. Although Bell Sports Corp. believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be attained. These risks are detailed from time to time in the Bell Sports Corp.'s filing with the Securities and Exchange Commission. CONTACT: Bell Sports Corp. Sondra Lehman, 888/534-9500 |
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