Oshkosh Corporation (NYSE: OSK) today announced that it intends, subject
to market and other conditions, to sell up to $500 million aggregate
principal amount of its senior notes due 2017 and senior notes due 2020
in a private offering to qualified institutional buyers pursuant to Rule
144A under the Securities Act of 1933 and in offshore transactions
pursuant to Regulation S under the Securities Act. The notes will be
unsecured and will be guaranteed by all of the Company’s subsidiaries
that from time to time guarantee obligations under the Company’s senior
credit facility.
The Company will use all of the net proceeds from the sale of the notes
to repay a portion of the debt currently outstanding under the Company’s
senior secured credit facility.
The notes have not been registered under the Securities Act of 1933 or
the securities laws of any state and may not be offered or sold in the
United States absent registration or an exemption from the registration
requirements of the Securities Act and applicable state securities laws.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy the notes, nor shall there be any sale
of the notes in any jurisdiction in which such offer, solicitation or
sale would be unlawful prior to the registration or qualification under
the securities laws of any such jurisdiction.
About Oshkosh Corporation
Oshkosh Corporation is a leading designer, manufacturer and marketer of
a broad range of specialty access equipment, commercial, fire &
emergency and military vehicles and vehicle bodies. Oshkosh Corporation
manufactures, distributes and services products under the brands of
Oshkosh®, JLG®, Pierce®,
McNeilus®,
Medtec®, Jerr-Dan®, Oshkosh Specialty Vehicles,
Frontline™, SMIT™, CON-E-CO®, London®
and IMT®. Oshkosh products are valued worldwide in businesses
where high quality, superior performance, rugged reliability and
long-term value are paramount.
®, TM All brand names referred to in this news release are
trademarks of Oshkosh Corporation or its subsidiary companies.
Forward-Looking Statements
This press release contains statements that the Company believes to be
"forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995. All statements other than
statements of historical fact, including, without limitation, statements
regarding the Company’s future financial position, business strategy,
targets, projected sales, costs, earnings, capital expenditures, debt
levels and cash flows, and plans and objectives of management for future
operations, are forward-looking statements. When used in this press
release, words such as "may,” "will,” "expect,” "intend,” "estimate,”
"anticipate,” "believe,” "should,” "project” or "plan” or the negative
thereof or variations thereon or similar terminology are generally
intended to identify forward-looking statements. These forward-looking
statements are not guarantees of future performance and are subject to
risks, uncertainties, assumptions and other factors, some of which are
beyond the Company’s control, which could cause actual results to differ
materially from those expressed or implied by such forward-looking
statements. These factors include risks related to sustaining the
required rate of production for the M-ATV contract and the amount, if
any, of additional orders for M-ATVs that the Company may receive; the
cyclical nature of the Company’s access equipment, commercial and fire &
emergency markets, especially during a global recession and tight credit
markets; the duration of the global recession, which could lead to
additional impairment charges related to many of the Company’s
intangible assets; the expected level and timing of U.S. Department of
Defense procurement of products and services and funding thereof; risks
related to reductions in government expenditures, the potential for the
government to competitively bid the Company’s Army and Marine contracts
and the uncertainty of government contracts generally; the consequences
of financial leverage associated with the JLG acquisition, which could
limit the Company’s ability to pursue various opportunities; risks
related to the collectability of receivables during a recession,
particularly for those businesses with exposure to construction markets;
risks related to production delays as a result of the economy’s impact
on the Company’s suppliers; the potential for commodity costs to rise
sharply, including in a future economic recovery; risks associated with
international operations and sales, including foreign currency
fluctuations; and the potential for increased costs relating to
compliance with changes in laws and regulations. Additional information
concerning these and other factors is contained in the Company’s filings
with the Securities and Exchange Commission. All forward-looking
statements speak only as of the date of this press release. The Company
assumes no obligation, and disclaims any obligation, to update
information contained in this press release.
