Alliant Techsystems plans to sell $300 million senior notes to help fund Bushnell acquisition

By Paul A. Harris

Portland, Ore., Oct. 8 - Alliant Techsystems Inc. announced in a Tuesday press release that it plans to sell $300 million of senior notes.

BofA Merrill Lynch will lead the deal, according to a market source.

Proceeds will be used to fund the acquisition of Bushnell Group Holdings Inc. for $985 million in cash, to refinance existing senior term loan and revolving credit facilities, to pay fees and expenses and for other general corporate purposes.

Debt financing also includes a $1.86 billion senior secured credit facility that launched at a bank meeting on Tuesday.

BofA Merrill Lynch, Bank of Tokyo-Mitsubishi UFJ Ltd., RBC Capital Markets LLC, SunTrust Robinson Humphrey Inc., U.S. Bank NA and Wells Fargo Securities LLC are the joint lead arrangers and bookrunners on the credit facility.

The acquisition is expected to close in the third or fourth quarter of the company's fiscal year 2014, subject to regulatory approvals and customary conditions.

Alliant Techsystems is an Arlington, Va.-based aerospace, defense, and commercial products company. Bushnell is an Overland Park, Kan.-based designer, marketer and distributor of branded sports optics, outdoor accessories and performance eyewear.

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