NEW YORK--(BUSINESS WIRE)--May 13, 2014-- L-3 Communications (NYSE:LLL) announced today that L-3 Communications Corporation (“L-3 Communications”), its wholly owned subsidiary, has priced an offering of $1 billion in aggregate principal amount of senior notes. The senior notes are being issued in two tranches – $350 million of three-year senior notes bearing interest at a fixed rate of 1.50% per year and maturing on May 28, 2017, and $650 million of 10-year senior notes bearing interest at a fixed rate of 3.95% per year and maturing on May 28, 2024. The senior notes are expected to settle on May 28, 2014, subject to customary closing conditions. The senior notes are being offered in a registered offering pursuant to Rule 415 under the Securities Act of 1933, as amended (the “Securities Act”).
L-3 Communications intends to use a portion of the net proceeds from the offering to fund the conversion payment obligation and/or the redemption price of the company’s 3.00% Convertible Contingent Debt Securities due August 1, 2035. The remaining net proceeds will be used for general corporate purposes.
Press Releases - Media Center - L-3
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.