By Aleesia Forni
Virginia Beach, Oct. 22 - Alliant Techsystems Inc. priced $300 million of 5¼% senior notes (/B+/) due 2021 on Tuesday at par, according to a market source.
The notes came in at the tight end of talk, which was set at 5¼% to 5½%.
BofA Merrill Lynch was the left lead bookrunner.
Mitsubishi UFJ Securities (USA) Inc., RBC Capital Markets LLC, SunTrust Robinson Humphrey Inc., U.S. Bancorp Investments Inc. and Wells Fargo Securities LLC were the joint bookrunners for the Rule 144A with registration rights deal.
Proceeds will be used to help 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.
Alliant Techsystems is an Arlington, Va.-based aerospace, defense and commercial products company.
| Issuer: | Alliant Techsystems Inc.
|
| Amount: | $300 million
|
| Description: | Senior notes
|
| Maturity: | Oct. 1, 2021
|
| Bookrunners: | BofA Merrill Lynch, Mitsubishi UFJ Securities (USA) Inc., RBC Capital Markets LLC, SunTrust Robinson Humphrey Inc., U.S. Bancorp Investments Inc., Wells Fargo Securities LLC
|
| Coupon: | 5¼%
|
| Price: | Par
|
| Yield: | 5¼%
|
| Spread: | 312 bps
|
| Trade date: | Oct. 22
|
| Settlement date: | Nov. 1
|
| Ratings: | Moody's: Ba3
|
| Standard & Poor's: B+
|
| Equity clawback: | 35% at 105.25 until Oct. 1, 2016
|
| Price talk: | 5¼% to 5½%
|
| Distribution: | Rule 144A, Regulation S
|
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