Engility to price $380 million eight-year senior notes this week, plans to refinance debt

By Paul A. Harris

Portland, Ore., Aug. 2 – Engility Corp. was scheduled to kick off its $380 million offering of eight-year senior notes (Caa1/B-) at an investor lunch set to get underway at 12:30 a.m. ET on Tuesday in New York, according to a syndicate source.

The Rule 144A with registration rights offering is scheduled to price at the end of the present week.

Morgan Stanley & Co. LLC, Barclays, SunTrust Robinson Humphrey Inc., Regions, Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and Jefferies LLC are the joint bookrunners.

The notes feature a make-whole call for the first three years and then become callable at par plus 75% of the coupon.

The Chantilly, Va.-based provider of integrated services for the U.S. government plans to use the proceeds to refinance debt.

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