Ducommun Incorporated DCO today announced that it has priced its offering (the “Notes Offering”) of $200 million in aggregate principal amount of 9.75% senior unsecured notes due 2018 (the “Notes”) at an offering price equal to 100% of par value. The Notes will bear interest at a rate of 9.75% per annum payable semi-annually on January 15 and July 15, commencing on January 15, 2012.
The Company intends to use the net proceeds of the Notes Offering to finance, in part, the purchase price of the Company's previously announced and pending acquisition of LaBarge, Inc. LB, which was approved by LaBarge's stockholders at the LaBarge special stockholder meeting held on June 23, 2011. The Notes Offering is expected to close on or about June 28, 2011, subject to closing of the Acquisition and customary closing conditions.
The Notes will be offered and sold to qualified institutional buyers in the United States pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and outside the United States in reliance on Regulation S under the Securities Act. The Notes have not been registered under the Securities Act, or any state securities laws, and, unless so registered, may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws.
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