L-3 to use new note proceeds to redeem its 6.375% notes due 2015

By Tali David

Minneapolis, Nov. 17 - L-3 Communications Corp. said it plans to use proceeds from a sale of new notes, together with cash on hand, to redeem $500 million in principal amount of its 6.375% senior subordinated notes due 2015.

The company is selling $500 million of new senior notes due 2016.

L-3 is a New York City-based contractor in command, control, communications, intelligence, surveillance and reconnaissance systems, aircraft modernization and maintenance, and government services. It is also a provider of electronic systems used on military and commercial platforms.

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