SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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): June 8, 2004
FLEETWOOD ENTERPRISES, INC.
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(Exact Name of Registrant as Specified in its Charter)
Delaware 1-07699 95-1948322
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(State or Other (Commission File (IRS Employer
Jurisdiction of Number) Identification
Incorporation) Number)
3125 Myers Street, Riverside, California 92503-5527
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (909) 351-3500
N/A
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(Former Name or Former Address, if Changed Since Last Report)
Item 5. Other Events.
On June 8, 2004, Fleetwood Enterprises, Inc. announced that it has
completed its call for the redemption of the 9.5% convertible trust II
preferred securities. A press release describing the completion of the
redemption is attached as Exhibit 99.1 hereto.
Item 7. Exhibits.
(c) Exhibits. The following exhibit is being furnished herewith:
Exhibit 99.1 Press release of Fleetwood Enterprises, Inc. issued June 8,
2004.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this current report to be signed on its behalf by
the undersigned hereunto duly authorized.
FLEETWOOD ENTERPRISES, INC.
Date: June 8, 2004 By: /s/ Boyd R. Plowman
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Boyd R. Plowman
Executive Vice President-Chief
Financial Officer
Exhibit 99.1
FLEETWOOD COMPLETES ITS CALL FOR REDEMPTION
OF 9.5% CONVERTIBLE TRUST II PREFERRED SECURITIES
Riverside, Calif., June 8, 2004 - Fleetwood Enterprises, Inc. (NYSE:FLE), the
nation's leader in recreational vehicle sales and a leading producer and
retailer of manufactured housing, announced today the successful completion
of its call for the redemption of $38 million in aggregate liquidation amount
of 9.5% Convertible Trust II Preferred Securities.
Of the 1,725,000 shares of Trust II preferred outstanding (liquidation amount
$22 per security), 943,935 units were redeemed on June 4 at $22 per unit,
plus a redemption premium of 6.333%, plus accrued and unpaid distributions,
for a total cash disbursement by the Company of approximately $22 million.
The remaining 781,065 units, including a number that were tendered to the
Company in privately negotiated transactions, were converted by the holders
into an aggregate of approximately 1,368,100 shares of common stock.
"The elimination of the last of our 9.5% convertible trust preferred
securities is a landmark event for Fleetwood," said Boyd R. Plowman,
executive vice president and chief financial officer. "With this transaction
and the previously announced conversion of the Trust III convertible trust
preferred securities, we have reduced our annual interest charges by $17.9
million. Although we paid cash for some of the securities in the current
transaction, we believe the reduction in our fully diluted share count
resulting from the cash redemptions makes this every bit as successful as the
Trust III transaction, where virtually all the trust preferred shares were
converted into equity. At the end of the day, our cash position and overall
liquidity remain strong, our shareholders' equity is improved and the
elimination of the interest charges provides a lift to our income statement."
About Fleetwood
Fleetwood Enterprises, Inc., a Fortune 1000 company headquartered in
Riverside, Calif., is a leading manufacturer of a full range of recreational
vehicles from motor homes to travel and folding trailers, and is a vertically
integrated manufacturer, retailer and financier of manufactured housing. The
Company is dedicated to providing quality, innovative products that offer
high value to our customers. Fleetwood operates facilities strategically
located throughout the nation, including recreational vehicle and
manufactured housing plants, retail home centers, and supply subsidiary
plants. For more information, visit the Company's Website at
www.fleetwood.com.
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