Vought Aircraft to bring $250 million senior notes

By Paul A. Harris and Sara Rosenberg

St. Louis, June 10 - Vought Aircraft Industries, Inc. is heading into the high-yield market with $250 million of senior notes, according to an informed source.

Goldman Sachs and Lehman Brothers are underwriters, the source added.

Proceeds will be used to help fund the merger between Vought and The Aerostructures Corp.

Vought is also in the process of obtaining a $60 million incremental revolver with an interest rate of Libor plus 225 basis points. The revolver launched for syndication in early June and will be used to help fund the working capital and general corporate needs of the larger combined company. Goldman Sachs and Lehman Brothers will also be the lead banks on the revolver.

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