Booz Allen touts ‘attractive’ rates on $400 million term loan A draw

By Devika Patel

Knoxville, Tenn., May 28 – Booz Allen Hamilton Holding Corp. was able to draw down $400 million at “attractive” rates under its term loan A in April.

“We executed and drew down the $400 million delayed-draw portion of our term loan A as planned on April 23,” treasurer and chief financial officer Lloyd Howell Jr. said Tuesday on the company’s earnings conference call for the fiscal fourth quarter and year ended March 31.

“This additional capital at attractive financing rates both improves our capital structure and supports our commitment to deliver shareholder value through disciplined capital deployment,” he said.

Cash and cash equivalents were $283.99 million as of March 31, compared with $286.96 million as of March 31, 2018.

Long-term debt, net of current position, was $1.70 billion as of March 31, compared with $1.76 billion as of March 31, 2018.

Booz Allen is a McLean, Va.-based provider of management and technology consulting services to the U.S. government in the defense, intelligence and civil markets.

© 2015 Prospect News.
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