L-3 Communications starts roadshow Tuesday for $750 million 10-year notes

By Paul A. Harris

St. Louis, Mo., June 6 - L-3 Communications Holdings, Inc. will start the roadshow Tuesday for $750 million of senior subordinated notes due 2012 (existing ratings Ba3/B+) according to a syndicate source. The deal is expected to price late in June.

Lehman Brothers and Banc of America Securities are the joint bookrunners. Credit Suisse First Boston is a co-manager, the source said, adding that other co-managers will likely emerge.

The Rule 144A notes are non-callable for five years.

Proceeds will be used to refinance debt used to fund the acquisition of Aircraft Integration Systems from Raytheon Co. and the tender and call of its $225 million 10 3/8% senior subordinated notes.

New York City-based L-3 supplies intelligence, surveillance and reconnaissance products, secure communications systems, avionics and ocean products, training products, microwave components and telemetry, instrumentation and space and wireless products.

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