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Anteon buys $73.12 million 12% notes in tender
New York, Dec. 23 - Anteon International Corp. said it purchased $73.124 million principal amount of its 12% senior subordinated notes due 2009 in its tender offer, leaving $1.876 million of the securities outstanding.
The Fairfax, Va. information technology and engineering company bought the notes at a price of $1,110.95 per $1,000 principal amount including $12.67 of accrued interest and a consent payment of $20.00 per $1,000. Holders of notes tendered after the consent date received $1,090.95 per $1,000 principal amount.
In total, Anteon paid $81.227 million.
Anteon also said it closed on a new $350 million credit facility. Proceeds of the $150 million term loan will be used to fund the tender offer, pay down its existing term loan and repay revolver borrowings.
Anteon said that it expects to save $6 million a year in interest costs since the new term loan is at Libor plus 200 basis points.
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