KEYW to repay credit facility borrowings with convertible proceeds

By Tali Rackner

Norfolk, Va., July 15 – KEYW Holding Corp. plans to repay the outstanding balances under its existing credit facility with the proceeds from a $125 million convertible senior notes offering, according to a company press release.

Proceeds will also be used to pay the cost of the capped call transactions to be entered into in connection with the convertibles. The balance of the net proceeds will be used for working capital, capital expenditures and other general corporate purposes, including potential acquisitions.

KEYW is a Hanover, Md.-based provider of cyber superiority, cybersecurity and geospatial intelligence solutions primarily for U.S. government intelligence and defense customers.

© 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.