Menu Dropdown

<< [Back to News Release Archive]

Raytheon Company Announces Early Tender Date Results of Debt Tender Offers

    WALTHAM, Mass., Oct. 15, 2004  /PRNewswire-FirstCall/ -- Raytheon Company
(NYSE: RTN) (the "Company") announced today the results for holders who
tendered and did not withdraw their notes by 5:00 p.m., New York City time, on
Thursday, October 14, 2004 (the "Early Tender Date").  The Company previously
announced tender offers (the "Tender Offers") for 5 different series (each, a
"Series") of debt securities (each, a "Security", and collectively, the
"Securities") on September 30, 2004.

    The following table sets forth the maximum principal amount of each Series
of Securities that will be accepted for repurchase by the Company pursuant to
the Tender Offers and the estimated amount of each Series of Securities
tendered by the Early Tender Date:

                                                   Maximum       Amount
                                                  Principal     Tendered
                                       CUSIP      Amount to     by Early
  Title of Securities                  Number    be Accepted   Tender Date

  6.500% Notes due July 15, 2005     755111AB7  $300,000,000  $410,304,000
  6.750% Notes due August 15, 2007   755111AE1  $300,000,000  $718,730,000
  4.500% Notes due November 15, 2007 755111BM2  $100,000,000  $192,018,000
  6.150% Notes due November 1, 2008  755111AN1  $175,000,000  $428,851,000
  6.00% Notes due December 15, 2010  755111AV3  $125,000,000  $167,825,000

    The estimated amounts tendered of each Series of Securities set forth
above are subject to verification and may change.  In accordance with the
terms of the Offer to Repurchase dated September 30, 2004 (the "Offer to
Repurchase"), holders may still tender additional Securities until 11:59 p.m.
on Thursday, October 28, 2004 (the "Expiration Date").  In each Series for
which the aggregate principal amount validly tendered and not withdrawn by the
Expiration Date exceeds the maximum principal amount to be accepted for
repurchase by the Company, tendering holders may have a portion of their
tendered Securities accepted for payment on a pro rata basis and the remaining
portion returned to them in accordance with the terms of the Offer to

    This press release is neither an offer to purchase nor a solicitation of
an offer to sell the Securities.  The Tender Offers are made only by the Offer
to Repurchase, and the information in this press release is qualified in its
entirety by reference to the Offer to Repurchase.  Persons with questions
regarding the Tender Offers should contact CSFB at (800) 820-1653 (toll free)
or (212) 325-3784 (collect) or Morgan Stanley at (800) 624-1808 (toll free) or
(212) 761-1941 (collect), Attn. Francesco Cipollone.  Requests for documents
should be directed to Morrow & Co. at (800 607-0088 (toll free) or (212) 754-

    NOTE:  The statements in this press release that are not historical
statements are considered forward-looking statements within the meaning of the
federal securities laws.  These statements are subject to risks, uncertainties
and other factors, many of which are beyond the Company's control, which could
cause the Company's actual performance to be materially different from those
expressed or implied by the statements.  The Company expressly disclaims a
duty to provide updates to forward-looking statements, and the estimates and
assumptions associated with them, after the date of this press release to
reflect the occurrence of subsequent events, changed circumstances or changes
in the Company's expectations.  Further information regarding factors that
could affect the Company's forward-looking statements are reported in the
Company's 2003 Annual Report on Form 10-K and its Quarterly Reports on Form
10-Q filed with the Securities and Exchange Commission (http://www.sec.gov/).

    Raytheon Company (NYSE: RTN), with 2003 sales of $18.1 billion, is an
industry leader in defense and government electronics, space, information
technology, technical services, and business and special mission aircraft.
With headquarters in Waltham, Mass., Raytheon employs 78,000 people worldwide.

   Steve Brecken

SOURCE: Raytheon Company

Web site:  http://www.raytheon.com/

Back to Top