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DRS Technologies starts roadshow Tuesday for $200 million 10-year notes
By Paul A. Harris
St. Louis, Oct. 6 - DRS Technologies, Inc. starts the roadshow Tuesday for an offering of $200 million senior subordinated notes due 2013 (B2/B), according to a syndicate source.
The deal is expected to price on Oct. 15, the source added.
Bear Stearns & Co. is the bookrunner on the Rule 144A offering. Wachovia Securities is joint lead. Fleet Securities is co-manager.
DRS will use proceeds to help fund its acquisition Integrated Defense Technologies, including repayment of that company's debt.
The prospective issuer is a defense electronics supplier based in Parsippany, N.J.
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