General Cable Corporation Announces Proposed Offering of Senior Convertible Notes



    HIGHLAND HEIGHTS, KY., September 12 /CNW/ - General Cable Corporation
(NYSE:   BGC) (the "Company") announced today that it intends to commence a
private offering, subject to market conditions, that is expected to be up to
$450 million in aggregate principal amount of senior convertible notes (the
"Notes"). The Notes may allow the holder to convert the Notes into the right
to receive the Company's common stock or cash, or a combination of both. The
purpose of this offering is to fund a portion of the purchase price for the
previously disclosed acquisition of the wire and cable business of
Freeport-McMoRan Copper & Gold Inc. and related costs, as well as funding the
potential expansion of the Company's business in the United States and in
foreign countries, the potential acquisition of other complementary businesses
and other general corporate purposes.

    The Notes will be sold to qualified institutional buyers in reliance on
Rule 144A under the Securities Act of 1933, as amended (the "Securities Act").
The Notes and the common stock issuable upon conversion of the Notes have not
been registered under the Securities Act or any state securities laws, and
unless so registered, may not be offered or sold in the United States except
pursuant to an exemption from the registration requirements of the Securities
Act and applicable state laws. This press release shall not constitute an
offer to sell or the solicitation of an offer to buy any of these Notes, nor
shall it constitute an offer, solicitation or sale in any jurisdiction in
which such offer, solicitation or sale is unlawful.

    Certain statements in this press release, including, without limitation,
statements regarding future financial results and performance, plans and
objectives, capital expenditures and the Company's or management's beliefs,
expectations or opinions, are forward-looking statements. These statements are
made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Actual results may differ materially from those
statements as a result of factors, risks and uncertainties over which the
Company has no control. Such factors include reliance on dividends and other
transfers from subsidiaries to repay indebtedness; ability to service
outstanding indebtedness; the Company's failure to comply with covenants in
existing and future financing arrangements; covenants contained in existing
indebtedness that restrict the Company's business operations; downgrade in the
Company's credit ratings; ability to repurchase outstanding notes; ability to
pay the conversion price on convertible notes; the economic strength and
competitive nature of the geographic markets that the Company serves;
economic, political and other risks of maintaining facilities and selling
products in foreign countries; changes in industry standards and regulatory
requirements; advancing technologies, such as fiber optic and wireless
technologies; volatility in the price of copper and other raw materials, as
well as fuel and energy and the Company's ability to reflect such volatility
in its selling prices; interruption of supplies from the Company's key
suppliers; the failure to negotiate extensions of the Company's labor
agreements on acceptable terms; the Company's ability to increase
manufacturing capacity and achieve productivity improvements; the Company's
dependence upon distributors and retailers for non-exclusive sales of certain
of the Company's products; pricing pressures in the Company's end markets; the
Company's ability to maintain the uncommitted accounts payable or accounts
receivable financing arrangements in its European operations; the impact of
any additional charges in connection with plant closures and the Company's
inventory accounting practices; the impact of certain asbestos litigation,
unexpected judgments or settlements and environmental liabilities; the ability
to successfully integrate the proposed acquisition and other acquisitions,
costs associated with the proposed acquisition and other acquisitions; the
receipt and timing of regulatory approvals for the proposed acquisition;
ability to finance the acquisition purchase price and expiration of the
commitment letter; the possibility that the proposed acquisition will not
close; the reaction of customers, suppliers and competitors to the proposed
acquisition; general market perception of the proposed acquisition, diversion
of management attention from other business concerns due to the proposed
acquisition and other acquisitions; undisclosed or unanticipated liabilities
and risks resulting from the proposed acquisition; increased indebtedness
resulting from the funding of the proposed acquisition; operations in
additional foreign countries and political instability in such countries; the
ability to successfully identify and finance other acquisitions; the impact of
terrorist attacks or acts of war which may affect the markets in which the
Company operates; the Company's ability to retain key employees; the Company's
ability to service debt requirements and maintain adequate domestic and
international credit facilities and credit lines; the impact on the Company's
operating results of its pension accounting practices; the Company's ability
to avoid limitations on utilization of net losses for income tax purposes;
volatility in the market price of the Company's common stock all of which are
more fully discussed in the Company's Annual Report on Form 10-K filed with
the Securities and Exchange Commission on March 1, 2007, as well as any
current and periodic reports filed with the Commission subsequent to such
date. The Company undertakes no obligation to release publicly the result of
any revisions to these forward-looking statements that may be made to reflect
events or circumstances after the date hereof or to reflect the occurrence of
unanticipated events.




For further information:

For further information: General Cable Corporation Michael P. Dickerson,
859-572-8684 Vice President of Finance and Investor Relations

Organization Profile

GENERAL CABLE CORPORATION

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