Reebok International Ltd. Announces Completion of Its Offering of 2.0% Convertible Debentures Due 2024 and Issues Notice to Redeem Its $250 Million 4.25% Convertible Debentures Due 2021

by C-BW@CLARI.NET (REEBOK INTERNATIONAL VIA BIZWIRE) on 2004-04-30 12:10:07

CANTON, Mass.--(BUSINESS WIRE)--April 30, 2004--Reebok
International Ltd. (NYSE:RBK) announced today that it has completed
its offering of $350 million of 2.0% Convertible Debentures due 2024,
which includes the exercise by the initial purchasers of their option
to purchase an additional $50 million aggregate original principal
amount of debentures.
The company also announced today that it has issued a notice of
redemption to redeem the $250 million outstanding principal amount of
its 4.25% convertible debentures due 2021 on May 17, 2004. The
redemption price on May 17, 2004 is equal to 102.125% of the principal
amount of the convertible debentures, together with accrued and unpaid
interest, if any, up to but not including the redemption date.
Holders can either elect to convert their convertible debentures
into shares of the company's common stock or receive the redemption
price in cash. If holders receive the redemption price in cash, the
company will fund the redemption with cash on hand.
This news release does not constitute an offer to sell, or the
solicitation of an offer to buy, any security and shall not constitute
an offer, solicitation or sale in any jurisdiction in which such
offering would be unlawful.

Reebok's statements in this press release that relate to future
plans or events are forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. There can be no
assurance regarding whether holders of 2021 debentures will choose to
convert their convertible debentures into shares of the company's
common stock or receive the redemption price in cash. In addition,
Reebok's business is subject to the risks described in its filings
with the Securities and Exchange Commission.

Reebok International Ltd., headquartered in Canton, MA, is a
leading worldwide designer, marketer and distributor of sports,
fitness and casual footwear, apparel and equipment under the Reebok,
Rockport and Greg Norman Brands and footwear under the Polo Ralph
Lauren Brand.