Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers Tenders > Headlines for 2008 > News item |
DRS starts change-of-control tender offers for three series of notes
By Susanna Moon
Chicago, Nov. 25 - DRS Technologies, Inc. began an offer to purchase all of its outstanding 6 7/8% senior subordinated notes due 2013, 6 5/8% senior notes due 2016 and 7 5/8% senior subordinated notes due 2018 under a change-of-control notice and offer dated Nov. 21, according to an 8-K filing with the Securities and Exchange Commission.
The offer is being made under the company's obligations to purchase any and all of its notes following a change of control, which occurred on Oct. 22, as a result of the company's merger with Dragon Merger Sub, Inc., a wholly owned subsidiary of Finmeccanica - Societá per azioni.
The offer for 6 7/8% and 7 5/8% notes will expire at 5 p.m. ET on Jan. 15. The offer for 6 5/8% notes will end at 5 p.m. ET on Jan. 14.
The company said it will pay $1,010 plus accrued interest to Jan. 20 per $1,000 principal amount for the 6 7/8% and 7 5/8% notes and to Jan. 19 for the 6 5/8% notes.
DRS Technologies is a Parsippany, N.J., supplier of products and services to the military, government agencies and prime contractors.
Finmeccanica is based in Italy and is a manufacturer of helicopters, civil and military aircraft, aero structures, satellites, space infrastructure, missiles, defense electronics and security.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.