Textron Prices Offering of $600 Million of Notes

Textron ~ September 15, 2009,
PROVIDENCE, R.I.--(BUSINESS WIRE)--Textron Inc. (NYSE: TXT - News) today announced it has priced its public offering of notes in an aggregate principal amount of $600 million, comprised of $350 million of 6.20% notes due March 15, 2015 and $250 million of 7.25% notes due October 1, 2019. The closing of the offering is expected to occur on September 17, 2009, subject to customary closing conditions.
Textron plans to use the net proceeds from the issuance of the notes for general corporate purposes, which may include the repayment or repurchase of certain debt, including the repurchase of outstanding debt securities issued by Textron and its wholly owned subsidiary, Textron Financial Corporation, in the separate cash debt tender offers previously announced by Textron.
BofA Merrill Lynch, Barclays Capital Inc., Citi, Goldman, Sachs & Co. and J.P. Morgan Securities Inc. acted as joint book-running managers for the offering.
The offering will be made only by means of a prospectus supplement and accompanying base prospectus, copies of which may be obtained from: Banc of America Securities LLC, Attention: Prospectus Department, 100 West 33rd Street, 3rd Floor, New York, New York 10001 (1-800-294-1322, e-mail address: dg.prospectus_distribution@bofasecurities.com); Barclays Capital Inc., c/o Broadridge Integrated Distribution Services, 1155 Long Island Avenue, Edgewood, NY 11717 (phone: 1-888-603-5847 and e-mail: Barclaysprospectus@broadridge.com); Citigroup Global Markets Inc., 140 58th Street, 8th Floor, Brooklyn, New York 11220 (1-877-858-5407); Goldman, Sachs & Co., Attn: Prospectus Department, 85 Broad Street, New York, NY 10004, Telephone: 1-866-471-2526, Facsimile: 212-902-9316, or by emailing prospectus-ny@ny.email.gs.com; and J.P. Morgan Securities Inc., 270 Park Avenue, Floor 5, New York, NY 10017 (phone: 212-270-1477).
This press release does not constitute an offer to sell or the solicitation of an offer to buy any notes, nor will there be any sale of notes, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Textron
Textron is a multi-industry company that leverages its global network of aircraft, defense, industrial and finance businesses to provide customers with innovative solutions and services. Textron is known around the world for its powerful brands such as Bell Helicopter, Cessna Aircraft Company, Jacobsen, Kautex, Lycoming, E-Z-GO, Greenlee and Textron Systems.
Forward-looking Information
This press release may include forward-looking statements of Textron. These forward-looking statements are not statements of historical fact but rather reflect Textron’s current expectations, estimates and predictions about future results and events. These statements may use words such as “should,” “likely,” “target,” “anticipate,” “believe,” “estimate,” “expect,” “intend,” “predict,” “project” and similar expressions as they relate to Textron or its management. When Textron makes forward-looking statements, they are based on its management’s beliefs and assumptions, using information currently available to Textron. These forward-looking statements are subject to risks, uncertainties and assumptions, including, but not limited to, the risks, uncertainties and assumptions discussed in Textron's most recent Annual Report on Form 10-K, any Quarterly Reports on Form 10-Q filed thereafter and the documents incorporated by reference therein. Textron undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, developments or otherwise. If one or more of these or other risks or uncertainties materialize, or if Textron’s underlying assumptions prove to be incorrect, actual results may vary materially from what Textron projected. Any forward-looking statements of Textron you read in this press release reflect its current views with respect to future events and are subject to these and other risks, uncertainties and assumptions relating to Textron’s operations, results of operations, growth strategy and liquidity. All subsequent written and oral forward-looking statements attributable to Textron or individuals acting on its behalf are expressly qualified in their entirety by this section.
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