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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15 (d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 22, 1999
Champion Enterprises, Inc.
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(Exact name of registrant as specified in its charter)
Michigan
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State or other jurisdiction of incorporation
1-9751 38-2743168
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Commission File Number IRS Employer Identification No.
2701 University Dr., Suite 300, Auburn Hills, Michigan 48326
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (248) 340-9090
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Item 5. Other Events.
On April 22, 1999 the Registrant announced that its Board of Directors had
approved a Senior Note offering for $175 million. A copy of the press release
announcing this offering is attached as Exhibit 99.
Item 7. Exhibits.
Exhibit
Number.
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99 Press Release issued April 22, 1999.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
CHAMPION ENTERPRISES, INC.
/s/ JOSEPH H. STEGMAYER
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Joseph H. Stegmayer
Executive Vice President, Chief
Strategic and Financial Officer
April 27, 1999
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INDEX TO EXHIBITS
Sequential
Exhibit No. Description Page No.
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99 Press Release issued April 22, 1999
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[CHAMPION ENTERPRISES, INC. LETTERHEAD]
FOR IMMEDIATE RELEASE
INVESTOR AND MEDIA CONTACTS:
Joseph H. Stegmayer Elizabeth M. Higashi, CFA
Chief Financial Officer Investor Relations
(248) 340-9090 (847) 304-1655
CHAMPION ENTERPRISES, INC.
APPROVES
SENIOR NOTE OFFERING
AUBURN HILLS, MICH., APRIL 22, 1999---CHAMPION ENTERPRISES, INC. (NYSE:
CHB) today announced that the Board of Directors has approved an offering for
$175 million of unsecured Senior Notes. The net proceeds from the offering will
be used to reduce bank debt and for general corporate purposes, including
possible acquisitions of other companies or assets. The company expects the
Notes to be privately placed to a group of institutional investors pursuant to
Rule 144A of the Securities Act of 1933. The Notes being offered have not been
registered and will not be registered under the Securities Act and may not be
offered or sold in the United States absent registration or an applicable
exemption from registration requirements.
Champion Enterprises, Inc., headquartered in Auburn Hills, Michigan, is
the nation's leading housing manufacturer. For the year ended January 2, 1999,
revenues were $2.3 billion and income from continuing operations rose 32 percent
to $1.91 per diluted share. The company has 65 home building facilities in 18
states and western Canada and 268 company-operated retail housing centers in 28
states. Champion homes are also sold by 3,500 independent retail locations,
which includes over 650 locations that have joined the "Alliance of Champions"
marketing program. Further information on Champion can be found using the
company's web site at http://www.champent.com.
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