Leidos Holdings to repay bridge loan with note offering proceeds

By Wendy Van Sickle

Columbus, Ohio, May 7 – Leidos Holdings Inc. plans to pay the outstanding balance on the 364-day bridge loan facility entered into in connection with the acquisition of DYHC Inc. from the Dynetics, Inc. Employee Stock Ownership Trust with proceeds of an offering of senior notes, according to a news release.

The notes will be issued by the company’s Leidos, Inc. subsidiary.

Leidos completed its $1.65 billion acquisition of Dynetics in January and used proceeds from the bridge facility along with cash on hand to fund the purchase.

Leidos is a Reston, Va.-based information technology, engineering, and science solutions and services provider working to solve challenges in the defense, intelligence, homeland security, civil and health markets.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.