The Estée Lauder Companies Inc. (NYSE: EL) today called for redemption
all of its outstanding 7.75% Senior Notes due 2013. As of today, the
aggregate outstanding principal amount of the Notes is $230,146,000.
The redemption date will be September 4, 2012. The redemption price will
be the greater of (1) 100% of the principal amount of the Notes or (2)
the sum of the present value of the remaining scheduled payments of
principal and interest on the Notes, discounted to the date of
redemption, as described in the Notes, using a reference treasury rate
plus 50 basis points. In either case, accrued and unpaid interest will
also be included in the redemption price.
On and after the redemption date, the Notes will no longer be deemed
outstanding, interest will cease to accrue thereon and all rights of the
holder of the Notes will cease to exist, except for the right to receive
the redemption price, without interest thereon.
The Notes were issued pursuant to an Indenture dated November 5, 1999
(the “Indenture”), between the Company and U.S. Bank Trust National
Association, as successor in interest to State Street Bank and Trust
Company, N.A., as trustee.
The notice of redemption containing information required by the terms of
the Indenture was sent to registered holders of the Notes today. Notes
are to be surrendered to U.S. Bank Trust National Association, as
trustee and paying agent, in exchange for payment of the redemption
price on the redemption date as set forth in the notice.
About The Estée Lauder Companies Inc.
The Estée Lauder Companies Inc. is one of the world’s leading
manufacturers and marketers of quality skin care, makeup, fragrance and
hair care products. The Company's products are sold in over 150
countries and territories under the following brand names: Estée Lauder,
Aramis, Clinique, Prescriptives, Lab Series, Origins, M•A•C, Bobbi
Brown, Tommy Hilfiger, Kiton, La Mer, Donna Karan, Aveda, Jo Malone,
Bumble and bumble, Darphin, Michael Kors, American Beauty,
Flirt!, GoodSkin Labs, Grassroots Research Labs, Tom Ford, Coach, Ojon,
Smashbox and Ermenegildo Zegna.
An electronic version of this release can be found at the Company’s
Information contained on the Company’s website does not constitute part
of this press release.