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Prospect News home > News index > List of issuers E > Headlines for Exelis, Inc. > News item |
Exelis gets $600 million revolver via JPMorgan, Citi, RBS, Wells Fargo
By Susanna Moon
Chicago, Oct. 28 - Exelis Inc. closed a $600 million senior unsecured revolving credit facility, effective Friday, with a syndicate of lenders and JPMorgan Chase Bank, NA as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.
The total facility may be increased to $800 million with lender commitments.
Proceeds will be used for working capital and other general corporate purposes.
On Friday, the company had borrowings of $240 million under the agreement.
Citibank, NA is syndication agent. Barclays Bank plc, Societe Generale, Royal Bank of Scotland plc, U.S. Bank NA, Bank of Tokyo-Mitsubishi UFJ, Ltd. and Wells Fargo Bank, NA are documentation agents.
The agreement was arranged by J.P. Morgan Securities LLC, Citigroup Global Markets Inc., RBS Securities Inc. and Wells Fargo Securities LLC, as lead arrangers and joint bookrunners.
The defense technology segment of, and eventual spinoff from, diversified manufacturing company ITT is based in White Plains, N.Y.
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