Spirit AeroSystems offers fixed-rate notes, floaters in three parts

By Devika Patel

Knoxville, Tenn., May 22 – Spirit AeroSystems, Inc. will conduct an offering of senior notes in three tranches, according to a 424B5 filed with the Securities and Exchange Commission.

The company is selling two fixed-rate tranches as well as a floating-rate tranche due 2021.

The fixed-rate notes feature a make-whole call and then a par call. The floaters are callable at par after one year.

BofA Merrill Lynch, Citigroup Global Markets Inc., Goldman Sachs & Co., Morgan Stanley & Co. LLC, Mizuho Securities USA Inc. and RBC Capital Markets Corp. are the bookrunners.

Proceeds will be used to repurchase $300 million of the company’s 5.25% senior notes due 2022, to repay approximately $250 million of its senior term loan A facility, for its $725 million accelerated share repurchase program and to fund its planned acquisition of S.R.I.F. NV and Asco Industries NV.

Spirit AeroSystems is a Wichita, Kan.-based maker of commercial and military airplane components, including fuselages, propulsion systems and wings.

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