Booz Allen driving by with $500 million of eight-year senior notes; early guidance 4¼% area

By Paul A. Harris

Portland, Ore., June 7 – Booz Allen Hamilton Inc. plans to price a $500 million offering of eight-year senior notes (existing ratings Ba2/BB-) in a Monday drive-by trailing a conference call with investors, according to market sources.

Initial guidance has the deal coming to yield in the 4¼% area, a trader said.

BofA Securities Inc., J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC, SMBC Nikko Securities America Inc. and Wells Fargo Securities LLC are the joint bookrunners.

Fifth Third Securities Inc., Capital One Securities Inc., MUFG, PNC Capital Markets LLC, TD Securities (USA) LLC and Truist Securities Inc. are the co-managers.

The Rule 144A and Regulation S notes become callable after three years at par plus 50% of the coupon. They feature a three-year 40% equity clawback at par plus the full coupon and have a 101% poison put.

The McLean, Va.-based management and information technology consulting services provider plans to use the proceeds to fund the acquisition of Liberty IT Solutions, LLC.

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