L3Harris plans new debt financing for Tactical Data Links purchase

By Sara Rosenberg

New York, Oct. 3 – L3Harris Technologies plans on using debt financing to fund its acquisition of Viasat Inc.’s Tactical Data Links product line for about $1.96 billion, according to a company presentation.

Second-quarter net leverage is expected to increase modestly to 1.9x.

Closing is expected in the first half of 2023, subject to regulatory approvals and other customary conditions.

Citi acted as financial adviser to L3Harris.

L3Harris is a Melbourne, Fla.-based aerospace and defense technology company. The Tactical Data Links product line is integrated on military aircraft, ground vehicles, surface vessels and operating bases, enabling warfighters across multiple domains to securely share voice and data communications.

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