L-3 Communications to repay revolving credit debt via note offering

By Tali Rackner

Norfolk, Va., Nov. 29 – L-3 Communications Corp. plans to repay revolving credit borrowings using the proceeds from a new senior note offering, according to an 8-K filing with the Securities and Exchange Commission.

The borrowings were used to repay the company’s $200 million principal amount of 3.95% senior notes that matured on Nov. 15, 2016.

Proceeds will also be used to redeem all of its $350 million 1.5% senior notes due 2017.

L-3 Communications is a New York-based contractor in command, control, communications, intelligence, surveillance and reconnaissance systems, aircraft modernization and maintenance and government services. It is also a provider of electronic systems used on military and commercial platforms.

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