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Alion to repay revolver, first- and second-lien loans via common stock
By Tali Rackner
Norfolk, Va., April 29 – Alion Science and Technology Corp. plans to repay all outstanding amounts under the existing revolving credit facility maturing April 30, 2018, with the proceeds from a common stock offering, according to a filing with the Securities and Exchange Commission.
It will also pay down all outstanding amounts, including accrued interest, under tranches A and B of its existing first-lien term loan that matures on Aug. 18, 2018 and all amounts under its existing second-lien term loan, which maturing Feb. 18, 2020.
In addition, proceeds will be used to fully repay Alion’s existing third-lien notes due Feb. 18, 2020.
Net proceeds from the first- and second-lien term loans, and the third-lien notes, and a portion of the net proceeds from the revolver, were used to refinance a substantial majority of the company’s then-existing debt in August 2014.
Alion is a McLean, Va.-based research and development company whose primary customer is the U.S. government.
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