Spirit AeroSystems Holdings Inc SPR subsidiary, Spirit AeroSystems Inc, has priced a private offering of $900 million of 9.375% Senior Secured First Lien Notes due 2029.
The offering was increased to $900 million from the previously announced offering size of $800 million.
Spirit plans to use the net proceeds from the offering to fund a tender offer for any and all of the $500 million outstanding principal amount of its 5.500% Senior Secured First Lien Notes due 2025.
It will also use the proceeds to redeem Spirit’s outstanding 3.950% Senior Notes due 2023 and to pay related premiums, fees and expenses incurred in connection with the foregoing.
The closing of the offering is expected to occur on or about November 23, 2022.
Interest on the Notes will be payable semi-annually on May 30 and November 30 of each year, beginning on May 30, 2023.
Price Action: SPR shares closed higher by 0.62% at $27.39 on Tuesday.
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