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AmeriSource To Issue Additional $50 Million In Convertible Subordinated Note
Offering
VALLEY FORGE, PENNSYLVANIA - December 14, 2000 - AmeriSource Health
Corporation today announced that the Company will issue an additional $50
million of its Convertible Subordinated Notes due 2007 pursuant to an option
that was granted to the initial purchasers. An aggregate of $300 million of the
notes will be outstanding following the issuance of the additional notes. The
notes will have an annual interest rate of 5%, payable semi-annually, and will
be convertible into Class A Common Stock of the Company at $52.9688 per share.
The Company intends to use the net proceeds from the sale of the notes to repay
existing borrowings, and for working capital and other general corporate
purposes. The notes will provide longer term, fixed rate debt at a lower cost
than existing debt. The notes are being issued in a private placement and are
expected to be resold by the initial purchasers to qualified institutional
buyers under Rule 144A of the Securities Act of 1933.
The notes and the common stock issuable upon conversion of the notes
have not been registered under the Securities Act and may not be offered or sold
in the United States absent registration or an applicable exemption from the
registration requirements. This does not constitute an offer to sell or the
solicitation of an offer to buy any security in any jurisdiction in which such
offer or sale would be unlawful.
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Certain information contained in this press release includes forward-
looking statements (as defined in Section 27A of the Securities Act and Section
21E of the Exchange Act) that reflect the Company's current views with respect
to future events and financial performance. Certain factors such as competitive
pressures, success of restructuring or systems initiatives, market interest
rates, regulatory changes, continued industry consolidation, changes in customer
mix, changes in pharmaceutical manufacturers' pricing and distribution policies,
changes in U.S. government policies, customer insolvencies, the loss of one or
more key customer or supplier relationships and other matters contained in the
Company's 10-K for fiscal year 1999 and other public documents could cause
actual results to differ materially from those in the forward-looking
statements. The Company assumes no obligation to update the matters discussed
in this press release.
