SOLECTRON FILES REGISTRATION STATEMENT
SOLECTRON FILES REGISTRATION STATEMENT MILPITAS, Calif., April 6 /PRNewswire/ -- Solectron Corp.
(NASDAQ: SLTN) announced today that it has filed a registration statement with the Securities and Exchange Commission for a proposed offering of Liquid Yield Option Notes ("LYONs - a registered trademark of Merrill Lynch & Co.") due 2012.
The LYONs are zero coupon subordinated notes, having a principal amount at maturity of $300 million and are convertible into Solectron Common Stock. Merrill Lynch & Co. will act as sole underwriter of the offering which is expected to yield approximately $80 million in gross proceeds to Solectron. Solectron is a leading independent provider of advanced manufacturing services including sophisticated manufacturing process technologies and turnkey manufacturing, to original equipment manufacturers in the computer and electronics industry. The company is a full-service manufacturer and specializes in the assembly of complex printed circuit boards using surface mount and pin-through-hole interconnection technologies and in the testing and assembly of electronic systems and subsystems. Solectron also provides additional manufacturing services, remanufacturing and testing and consultation regarding board design and manufacturability. A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there by any sales of these securities in any State in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. A Prospectus may be obtained after April 13, 1992, from Merrill Lynch & Co. at World Finance Center, North Tower, New York, N.Y. 10281. -0- /CONTACT: Ann Dy of Solectron Corp., 408-957-8500/ (SLTN) CO: Solectron Corporation ST: California IN: CPR SU: OFR
RM -- SJ010 -- 5285 04/06/92 10:25 EDT
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|Date:||Apr 6, 1992|
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