Booz Allen Hamilton to use new notes to pay down revolver

Chicago, Aug. 1 – Booz Allen Hamilton Inc. plans to use proceeds from a new note offering to pay down its revolving credit facility, according to a 424B2 filing with the Securities and Exchange Commission.

The company has $425 million outstanding on the credit facility.

The revolver has interest at SOFR plus 125 basis points and matures on Sept. 7, 2027. Remaining note proceeds will be used for general corporate purposes.

A portion of the revolver was used for a settlement agreement between the company and the United States of America, acting through U.S. Department of Justice.

The $377.5 million settlement related to a civil investigation related to certain elements of the company’s cost accounting and indirect cost charging practices over a roughly 10-year period, from April 2011 through March 2021.

Based in McLean, Va., Booz Allen provides management and information technology consulting services.

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