Kratos Defense & Security Solutions plans to redeem 10% notes due 2017

New York, May 8 - Kratos Defense & Security Solutions, Inc. plans to redeem its 10% secured notes due 2017 using the proceeds of a new issue, according to an informed source.

The company plans to price $625 million of five-year first-lien senior secured notes (expected ratings B3/B) at a slight discount to yield in the 7¼% area.

The deal is set to price May 9.

SunTrust Robinson Humphrey Inc. is the lead bookrunner for the Rule 144A with registration rights offer.

Kratos is a San Diego-based high-tech defense contractor.

© 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.