Spirit AeroSystems to repay $250 million of term loan A via new notes

By Tali Rackner

Minneapolis, May 22 – Spirit AeroSystems, Inc. plans to repay about $250 million of the senior term loan A facility under its existing senior credit facility using the net proceeds from three new senior note offerings, according to a 424B5 filing with the Securities and Exchange Commission.

Proceeds, along with proceeds from a delayed-draw term loan and revolving credit facility borrowings, will also be used to repurchase $300 million of the company’s 5.25% senior notes due 2022, to repay about $250 million of its senior term loan A facility, for its $725 million accelerated share repurchase program and to fund its planned acquisition of Asco Industries NV.

Spirit AeroSystems is a Wichita, Kan.-based maker of commercial and military airplane components, including fuselages, propulsion systems and wings.

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