Raytheon plans for public equity-oriented offering

LEXINGTON, Mass. — Raytheon Company has announced that it plans a public
offering of $650 million of equity units and 11 million shares of Raytheon Class
B common stock. The net proceeds of the offering will be used to reduce debt and
for general corporate purposes. Each equity unit will initially consist of $50
in principal amount of a trust preferred security of RC Trust I, a Delaware business
trust formed by Raytheon Company and a purchase contract for Raytheon Company
Class B common stock. The price for the Class B common stock will be based upon
the average trading price of the stock at the time the contract is exercised.