Leidos offers guaranteed fixed-rate notes via nine bookrunners

By Marisa Wong

Los Angeles, Feb. 16 – Leidos, Inc. plans to price fixed-rate notes (Baa2/BBB-) guaranteed by parent company Leidos Holdings, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will feature a make-whole call followed by a par call.

BofA Securities, Inc., Citigroup Global Markets Inc., MUFG Securities Americas Inc., Capital One Securities, Inc., J.P. Morgan Securities LLC, PNC Capital Markets LLC, Scotia Capital (USA) Inc., SMBC Nikko Securities America, Inc. and U.S. Bancorp Investments, Inc. are the joint bookrunners.

Citibank, NA is the trustee.

Davis Polk & Wardwell LLP will act as counsel for the issuer. Cravath, Swaine & Moore LLP will be counsel for the underwriters.

The company intends to use proceeds to pay a portion of the outstanding balance on its 2020 term loan facility, repurchase any 2.95% notes due May 15, 2023 tendered in a concurrent tender offer and pay related fees and expenses. Any remaining proceeds from the new notes will be used to repay any 2023 notes that remain outstanding following the tender offer and, to the extent proceeds remain, to fund general corporate purposes.

Leidos is a technology, engineering and science company for the defense, intelligence, civil and health markets.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.