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Orbital ATK seeks $1.8 billion senior secured credit facility
By Sara Rosenberg
New York, Sept. 21 – Orbital ATK is looking to get a new $1.8 billion senior secured credit facility (Baa3/BBB), according to a news release.
The facility consists of a $1 billion revolver and an $800 million term loan A.
Proceeds will be used to refinance the company’s existing credit facility and for working capital, capital expenditures, permitted acquisitions and other general corporate purposes, the release said.
Closing on the credit facility is expected to occur concurrently with closing on the company’s proposed $400 million senior notes offering, which also will be used to refinance existing bank debt.
Orbital ATK is a Dulles, Va.-based designer, builder and provider of space, defense and aviation systems.
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