PROVIDENCE, R.I.--(BUSINESS WIRE)--Textron Financial Corporation (Textron Financial), a subsidiary of Textron Inc. (Textron, NYSE:TXT) today announced that Textron Financial’s Board of Directors has authorized a plan to withdraw listing of the Company’s 5.125% Notes due August 15, 2014 (the “Notes”) from the New York Stock Exchange. This plan is consistent with Textron’s strategy to exit its non-captive financing business announced in December, 2008.
Textron Financial intends to file a Form 25 with the Securities and Exchange Commission (SEC) effecting the delisting and withdrawing the Notes from registration under Section 12(b) of the Securities Exchange Act of 1934 (the “Act”). The Company also intends to file SEC Form 15 to suspend the Company’s obligations to file periodic reports under the Act. Textron Financial is taking this voluntary action to suspend its SEC reporting obligations because its public debt securities are held by less than 300 record holders.
Textron Financial intends to continue to make publicly available its annual audited financial statements and quarterly unaudited financial statements for as long as the Notes and other public debt securities remain outstanding. These statements will be available on the Company’s website and upon request to the Company.
About Textron Financial Corporation/Textron Inc.
Textron Financial Corporation is a subsidiary of Textron Inc. Textron Inc. 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. More information is available at www.textron.com.
Forward-Looking Information
Certain statements in this press release and other oral and written statements made by us from time to time are forward-looking statements, including those that discuss strategies, goals, outlook or other non-historical matters, or project revenues, income, returns or other financial measures. These forward-looking statements speak only as of the date on which they are made, and we undertake no obligation to update or revise any forward-looking statements. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those contained in the statements, including the risk factors contained in our most recent Annual Report on Form 10-K.