Hawker Beechcraft expected to launch $1.2 billion bonds backing Raytheon Aircraft LBO in late February

By Paul A. Harris

St. Louis, Feb. 16 - Hawker Beechcraft Corp. is expected to launch a $1.2 billion offering of senior subordinated notes in late February, according to a market source.

Credit Suisse, Goldman Sachs & Co. and Lehman Brothers will lead the deal.

Proceeds from the bonds will be used to help fund the approximately $3.3 billion acquisition of Raytheon Aircraft Services, Ltd., the aviation division of Raytheon Co., by Onex Corp. and GS Capital Partners.

The financing will also include $1.8 billion of credit facilities and $1.06 billion of sponsor equity.

Hawker Beechcraft is a Wichita, Kan., manufacturer of business jet, turboprop, piston-driven and military training aircraft.

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