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General Dynamics draws $7.5 billion under 364-day credit facility to acquire CSRA
By Wendy Van Sickle
Columbus, Ohio, April 3 – General Dynamics Corp. drew down $7.5 billion under its 364-day credit facility to fund a portion of its acquisition of CSRA Inc., according to an 8-K filed with the Securities and Exchange Commission.
General Dynamics acquired the Falls Church, Va.-based government IT contractor in a deal valued at $9.7 billion. The company also used cash on hand and $2 billion \ from the proceeds of the sale of short-term promissory notes to fund the transaction, which closed on Tuesday.
Also based in Falls Church, Va., General Dynamics is an aerospace and defense company.
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