Anteon buys $73.12 million 12% notes in tender

New York, Dec. 23 - Anteon International Corp. said it purchased $73.124 million principal amount of its 12% senior subordinated notes due 2009 in its tender offer, leaving $1.876 million of the securities outstanding.

The Fairfax, Va. information technology and engineering company bought the notes at a price of $1,110.95 per $1,000 principal amount including $12.67 of accrued interest and a consent payment of $20.00 per $1,000. Holders of notes tendered after the consent date received $1,090.95 per $1,000 principal amount.

In total, Anteon paid $81.227 million.

Anteon also said it closed on a new $350 million credit facility. Proceeds of the $150 million term loan will be used to fund the tender offer, pay down its existing term loan and repay revolver borrowings.

Anteon said that it expects to save $6 million a year in interest costs since the new term loan is at Libor plus 200 basis points.

© 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.