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Exhibit 99.1
FOR IMMEDIATE RELEASE
(Monday, November 13, 2000)
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CONTACTS:
Investor Relations Public Relations
J. Brad McGee Judith Czelusniak
Executive Vice President, Senior Vice President,
Chief Strategy Officer Corporate Relations
Tyco International (US) Inc. Tyco International (US) Inc.
(603) 778-9700 (561) 988-7424
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TYCO ANNOUNCES ZERO-COUPON CONVERTIBLE DEBT OFFERING
Pembroke, Bermuda, November 13, 2000--Tyco International Ltd. (NYSE: TYC;
LSE: TYI; BSX: TYC) today announced that it has commenced a zero-coupon
convertible debt offering. Under the offering the debt securities will be
convertible into common shares if the market price of the shares reaches
specified thresholds. It is expected that the debt will not be callable prior
to November 2007, and will mature in 20 years, although the holders will be
able to require Tyco to repurchase the debt on several occasions. The debt
securities will be offered with original issue discount with anticipated gross
proceeds of approximately $2 billion. Tyco will use the proceeds of the
offering to finance its recently announced acquisition of Lucent Power Systems.
The offering is being made only to qualified institutional buyers. The
securities being offered have not been registered under U.S. or state
securities laws, and may not be offered or sold in the United States absent
registration or an applicable exemption from the registration requirements.
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