UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of: September 2004
Commission File Number: 001-16429
ABB Ltd
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(Translation of registrant's name into English)
P.O. Box 8131, Affolternstrasse 44, CH-8050, Zurich, Switzerland
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(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F.
Form 20-F X Form 40-F
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Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes No X
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If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82-________.
This Form 6-K consists of the following:
1. Press release of ABB Ltd, dated September 9, 2004, announcing approval by
its bondholders of resolutions that give it the option to redeem certain
outstanding bonds issued by ABB International Finance Limited.
This report includes forward-looking information and statements that are subject
to risks and uncertainties that could cause actual results to differ. These
statements are based on current expectations, estimates and projections about
global economic conditions, the economic conditions of the regions and
industries that are major markets for ABB Ltd and ABB Ltd's lines of business.
These expectations, estimates and projections are generally identifiable by
statements containing words such as "expects," "believes," "estimates" or
similar expressions. Important factors that could cause actual results to differ
materially from those expectations include, among others, ABB's ability to
dispose of certain of its non-core businesses on terms and conditions acceptable
to it, ABB's ability to further reduce its indebtedness as planned, the
resolution of asbestos claims on terms and conditions satisfactory to ABB,
economic and market conditions in the geographic areas and industries that are
major markets for ABB's businesses, market acceptance of new products and
services, changes in governmental regulations, interest rates, fluctuations in
currency exchange rates and such other factors as may be discussed from time to
time in ABB's filings with the U.S. Securities and Exchange Commission,
including its annual reports on Form 20-F. Although ABB Ltd believes that its
expectations reflected in any such forward-looking statement are based upon
reasonable assumptions, it can give no assurance that those expectations will be
achieved.
Press Release ABB
For your business and technology editors
ABB bondholders pass resolutions to permit
repurchases
Zurich, Switzerland, September 9, 2004 - ABB, the leading power and automation
technology group, said bondholders earlier today approved resolutions which give
the company the option to redeem outstanding instruments of its Euro 300
million, 5.375 percent bonds due in 2005 and Euro 475 million, 5.125 percent
bonds due in 2006.
The prices will be calculated on the same terms as the tender offers announced
on 29 July 2004. Both bonds were issued by ABB International Finance Limited.
Peter Voser, ABB's chief financial officer, said: "The completion of this bond
repurchase will reduce ABB's debt by approximately $800 million and is part of
ABB's strategy to cut gross debt to $4 billion by the end of 2005."
Prior to the bondholders' meetings, 57 percent (Euro 156,591,000) of the
principal amount outstanding of 2005 bonds and 59 percent (Euro 215,200,000) of
the principal amount outstanding of 2006 bonds had been validly tendered and
accepted under the tender offers, for which pricing and settlement dates are
scheduled for 10 and 14 September 2004 respectively.
ABB intends to exercise its options to redeem early all of the remaining
outstanding 2005 and 2006 bonds. The redemption date is expected to be 29
September 2004, with the calculation of the relevant redemption amounts
scheduled for 27 September 2004.
Further information can be found online at www.ABBbondtender.com or by
contacting ABB or the dealer managers. A notice will also be published in the
Luxemburger Wort on 14 September 2004.
Mandated dealer managers for the transaction are Barclays Capital, Commerzbank
Securities and Dresdner Kleinwort Wasserstein.
ABB (www.abb.com) is a leader in power and automation technologies that enable
utility and industry customers to improve performance while lowering
environmental impact. The ABB Group of companies operates in around 100
countries and employs about 105,000 people.
For more information please contact:
Media Relations Investor Relations ABB Ltd
Thomas Schmidt Switzerland: Tel. +41 43 317 71 11 Affolternstrasse 44,
Tel: +41 43 317 6568 Sweden: Tel. +46 21 325 719 CH-8050 Zurich,
Fax: +41 43 317 7958 investor.relations@ch.abb.com Switzerland
media.relations@ch.abb.com Tel. +41 43 317 7111
www.abb.com
Dealer Managers
Barclays Bank plc Commerzbank AG Dresdner Bank AG
Contact: Sven Pongs / Marie-France Contact: Damian Saunders / Mathilde Contact: Hugh Carter/
Guay Baechler Olivia Smith
Tel. +44 20 7773 8990 Tel. +44 20 7469 3338 Tel. +44 20 7475 4974
Fax +44 20 7516 7379 Fax +44 20 7645 7191 Fax +44 20 7475 5843
Email: sven.pongs@barcap.com Email: bond.tender@commerzbankib.com Email: liability.management@drkw.com
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
ABB LTD
Date: September 9, 2004 By: /s/ Hans Enhorning
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Name: Hans Enhorning
Title: Group Vice President,
Assistant General Counsel
By: /s/ Francois Champagne
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Name: Francois Champagne
Title: Group Vice President,
Senior Counsel