Nelco/Dielektra announces new distributor

Flextronics International Ltd. has announced that it has commenced a cash tender offer for any and all of its 9 7/8% Senior Subordinated Notes due 2010, of which $500.0 million aggregate principal amount is currently outstanding. The terms of the tender offer are described in the Offer to Purchase, dated August 5, 2003, copies of which may be obtained from Global Bondholder Services Corporation.The scheduled expiration date for the tender offer is 12:00 midnight, New York City time, on Wednesday, September 3, 2003, unless extended or earlier terminated.Noteholders who validly tender and do not withdraw their notes by 5:00 p.m., New York City time, on the early tender date, which is currently scheduled for Tuesday, August 19, 2003, will receive total consideration of $1,170.00 per $1,000 principal amount of the notes tendered by such time, which includes an early tender premium of $20.00 per $1,000 principal amount of notes. Noteholders who validly tender their notes after 5:00 p.m., New York City time on the early tender date, but before the expiration date will receive a purchase price of $1,150.00 per $1,000 principal amount of the notes tendered by such time. In either case, noteholders will be paid accrued and unpaid interest up to, but not including, the date of payment for the notes. The date of payment for such tendered notes is expected to promptly follow the early tender date or expiration date, as the case may be.Notes tendered before 5:00 p.m., New York City time, on the withdrawal date, which is currently scheduled for August 19, 2003, may be validly withdrawn at any time until such time on the withdrawal date. Notes tendered after 5:00 p.m., New York City time, on the withdrawal date may not be validly withdrawn, unless Flextronics reduces the amount of the purchase price, the early tender premium or the principal amount of the notes subject to the tender offer or is otherwise required by law to permit withdrawal.Flextronics has engaged Citigroup Global Markets Inc. to act as dealer manager in connection with the Offer. Source: PCBnewsline