Deals this week: Spirit AeroSystems, Inc., Booz Allen Hamilton Holding Corporation, S&K Aerospace LLC
Spirit AeroSystems, Inc., a subsidiary of Spirit AeroSystems Holdings, Inc., has announced senior notes offering to raise $300m, which will be used to buy back its outstanding senior notes due 2020.
The new notes, due 2026, will carry a coupon rate of 3.850% a year, the interest is payable semi-annually beginning 15 December this year. The transaction is expected to be completed on 1 June.
Part of the proceeds will be used for Spirit AeroSystems' corporate activities.
Booz Allen Hamilton Holding Corporation has announced the offering of 13,000,000 shares of its Class A common stock at a price of $28.20 a share to generate $366.6m.
The shares will be issued on an underwritten basis by an affiliate of The Carlyle Group to Morgan Stanley & Co. LLC.
Following the completion of the transaction on 27 May, Carlyle will hold 11.3% of Booz Allen's outstanding shares.
S&K Aerospace LLC has received a $269m modification to a previously awarded contract from the US Air Force Life Cycle Management Center, Wright-Patterson Air Force Base.
Under the contract, S&K Aerospace will provide its services for the Parts and Repair Ordering Services (PROS) IV procurement system, which is intended to assist logistics needs of foreign military sales customers.
The work is expected to continue until March 2022.
TransDigm Inc intends to raise $950m through the issuance of 6.375% senior subordinated notes. Due 2026, the notes are priced at 100% of their principal amount.
The proceeds generated from the offering, which is anticipated to close next month, will be used for TransDigm's corporate activities, as well as for the purchase of ILC Holdings, Inc.