STAMFORD, Conn., Feb. 13, 2017 (GLOBE NEWSWIRE) -- Hexcel Corporation (NYSE:HXL), today priced an offering of
$400 million of 3.95% Senior Notes due 2027. The notes will be sold at a price of 99.559% of their face value.
The net proceeds from this offering are estimated to be approximately $394.7 million after deducting the
underwriting discount and our other estimated offering expenses payable by Hexcel. Hexcel intends to use the net proceeds
from the offering initially to reduce amounts outstanding under its Revolving Credit Facility, but without a reduction in
commitment, and thereafter for general corporate purposes, including the repurchase of shares of its outstanding common stock
pursuant to its authorized share repurchase program.
The offering is expected to close on February 16, 2017, subject to customary closing conditions.
Merrill Lynch, Pierce, Fenner & Smith Incorporated and Goldman, Sachs & Co. are acting as joint book-running
managers for the offering.
This offering of notes may be made only by means of a prospectus supplement and a prospectus. A copy of the
prospectus supplement and the prospectus relating to the offering will be filed with the Securities and Exchange Commission and,
when available, can be obtained from: (i) Merrill Lynch, Pierce, Fenner & Smith Incorporated, NC1-004-03-43, 200 North College
Street, 3rd floor, Charlotte, North Carolina 28255-0001, Attention: Prospectus Department, by phone at (800) 294-1322 or by
emailing dg.prospectus_requests@baml.com or (ii) Goldman, Sachs & Co., 200 West Street, New York, New
York 10282, Attention: Prospectus Department, by phone at (866) 471-2526 or by emailing prospectus-ny@ny.email.gs.com.
This communication shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there
be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to
registration or qualification thereof under the securities laws of any such state or jurisdiction.
Hexcel Corporation is a leading advanced composites company. It develops, manufactures and markets lightweight,
high-performance structural materials, including carbon fibers, reinforcements, prepregs, honeycomb, matrix systems, adhesives and
composite structures, used in commercial aerospace, space and defense and industrial applications such as wind turbine blades.
Disclaimer on Forward-Looking Statements
This press release contains statements that are forward-looking, including statements relating to analyses and
other information that are based on forecasts of future results and estimates of amounts not yet determinable. Actual results may
differ materially from the results anticipated in the forward-looking statements due to a variety of factors, including but not
limited to general economic and business conditions and the ability of Hexcel to complete the offering and deploy the resulting
proceeds as indicated above, including the risk that the offering described above will not close on the indicated timetable or at
all, and that the proceeds may not be able to be deployed as so indicated. Additional risk factors are described in Hexcel’s
filings with the SEC. Hexcel does not undertake an obligation to update its forward-looking statements to reflect future
events.
Contact Information Michael Bacal (203) 352-6826 michael.bacal@hexcel.com
