DynCorp International to launch $320 million eight-year notes Monday

By Paul A. Harris

St. Louis, Jan. 19 - DI Finance/DynCorp International LLC's $320 million offering of eight-year senior subordinated notes (Caa1) will launch in a roadshow beginning Monday, according to an informed source.

The notes are non-callable for four years.

Pricing is expected on Feb. 2 or Feb. 3.

Goldman Sachs & Co. and Bear Stearns & Co. are the joint bookrunners for the Rule 144A offering.

The company will also obtain a $420 million credit facility.

Proceeds will be used to help fund Veritas Capital's acquisition of DynCorp from Computer Sciences Corp. for $850 million, with $775 million in cash payable at closing plus $75 million of senior preferred stock.

DynCorp is a Fort Worth, Texas-based provider of mission critical support.

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