Cooper Industries Completes $500 Million Offering of Five-Year and Ten-Year Notes
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DUBLIN, Dec 07, 2010 - Cooper Industries plc (NYSE: CBE) today announced that its Cooper U.S., Inc. subsidiary has issued $250 million of senior unsecured fixed-rate notes due in 2016 and $250 million due in 2020. The five-year notes have an interest coupon of 2.375 percent and the ten-year notes have an interest coupon of 3.875 percent. Proceeds from the financing will be used for general corporate purposes.
About Cooper Industries
Cooper Industries plc (NYSE: CBE) is a global electrical products manufacturer with 2009 revenues of $5.1 billion. Founded in 1833, Cooper's sustained level of success is attributable to a constant focus on innovation, evolving business practices while maintaining the highest ethical standards, and meeting customer needs. The Company has seven operating divisions with leading market share positions and world-class products and brands including: Bussmann electrical and electronic fuses; Crouse-Hinds and CEAG explosion-proof electrical equipment; Halo and Metalux lighting fixtures; and Kyle and McGraw-Edison power systems products. With this broad range of products, Cooper is uniquely positioned for several long-term growth trends including the global infrastructure build-out, the need to improve the reliability and productivity of the electric grid, the demand for higher energy-efficient products and the need for improved electrical safety. In 2009, sixty-one percent of total sales were to customers in the industrial and utility end-markets and thirty-nine percent of total sales were to customers outside the United States. Cooper has manufacturing facilities in 23 countries as of 2009. For more information, visit the website at www.cooperindustries.com.
SOURCE: Cooper Industries plc
Cooper Industries
Director of Investor Relations
Mark Doheny,
713-209-8484
mark.doheny@cooperindustries.com
