EXHIBIT 99.1
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#06-xx
News Release
CONTACT:
Doug Dean
Director, Investor Relations
B/E Aerospace, Inc.
(561) 791-5000 ext. 1450
B/E AEROSPACE ANNOUNCES PRICING FOR CASH TENDER OFFER AND
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CONSENT SOLICITATION FOR 8 1/2% SENIOR NOTES DUE 2010
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WELLINGTON, FL, July 21, 2006 - B/E Aerospace, Inc. (the "Company")
(Nasdaq: BEAV) today announced the consideration to be paid in connection with
its cash tender offer and consent solicitation for any and all of its
outstanding $175.0 million aggregate principal amount of its 8 1/2% Senior Notes
due 2010 (the "Notes").
The consideration to be paid for each Note validly tendered and not
validly withdrawn on or prior to 5:00 p.m. New York City time on July 21, 2006
was based on a fixed spread of 50 basis points over the yield at 2:00 p.m. New
York City time on July 21, 2006 of the 4.00% U.S. Treasury Note due September
30, 2007 and is $1,071.41 per $1,000 principal amount of Notes, assuming a July
26, 2006 payment date, which includes a consent payment of $20 per $1,000
principal amount of Notes. The consideration to be paid for each Note validly
tendered and not validly withdrawn after 5:00 p.m. New York City time on July
21, 2006 but on or prior to 5:00 p.m. New York City time on August 7, 2006, the
expiration date of the tender offer, is $1,051.41 per $1,000 principal amount of
Notes, assuming an August 8, 2006 payment date, which will exclude any consent
payment.
The consent solicitation is scheduled to expire at 5:00 p.m. New York
City time on July 21, 2006, unless extended or earlier terminated. The tender
offer is scheduled to expire at 5:00 p.m. New York City time on August 7, 2006,
unless extended or earlier terminated.
The Company has retained UBS Securities LLC, Credit Suisse Securities
(USA) LLC and J.P. Morgan Securities Inc. to serve as Dealer Managers, and
Global Bondholder Services Corporation to serve as Depositary and Information
Agent.
Persons with questions regarding the tender offer and consent
solicitation should contact UBS
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Securities LLC toll free at (888) 722-9555 ext. 4210 and collect at (203)
719-4210, Credit Suisse Securities (USA) LLC toll free at (800) 820-1653 and
collect at (212) 325-7596, and J.P. Morgan Securities Inc. collect at (212)
270-7407, or Global Bondholder Services Corporation at (866) 804-2200. Requests
for documentation should be directed to Global Bondholder Services Corporation
at (866) 804-2200.
This announcement is for information purposes only and constitutes
neither an offer to purchase nor a solicitation of an offer to sell the Notes.
The tender offer and consent solicitation will be made only pursuant to the
Offer to Purchase and Consent Solicitation Statement dated July 10, 2006 and
related materials.
About B/E Aerospace, Inc.
B/E Aerospace, Inc. is the world's leading manufacturer of aircraft
cabin interior products, and a leading aftermarket distributor of aerospace
fasteners. B/E designs, develops and manufactures a broad range of products for
both commercial aircraft and business jets. B/E manufactured products include
aircraft cabin seating, lighting, oxygen, and food and beverage preparation and
storage equipment. The company also provides cabin interior design,
reconfiguration and passenger-to-freighter conversion services. Products for the
existing aircraft fleet - the aftermarket - generate about 60 percent of sales.
B/E sells and supports its products through its own global direct sales and
product support organization. For more information, visit B/E's website at
www.beaerospace.com.