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ATK to start one-month offer for 3% convertibles due 2024; call issued
By Susanna Moon
Chicago, July 11 – ATK said it began an offer to repurchase its $12,816,000 principal amount of outstanding 3% convertible senior subordinated notes due 2024, as required by the terms of the notes indenture.
Holders may put their notes for repurchase from 9 a.m. ET on July 18 through 5 p.m. ET on Aug. 14, according to a company press release.
ATK also called the notes at par plus accrued interest to but excluding the redemption date of Aug. 20.
In the offer, the repurchase price will be cash of par. Holders must be of record as of the close of business on Aug. 1.
ATK said it expects no accrued interest will be due as part of the repurchase price in the offer.
The repurchases and redemption will be funded with cash on hand and, if needed, borrowings under the company’s revolving credit facility.
Questions or requests for assistance may be directed to Wayde Heirigs at Alliant Techsystems Inc. at (952 351-3016).
The repurchase is not subject to any minimum surrender condition.
ATK is an aerospace, defense, and commercial products company based in Arlington, Va.
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