Raytheon pricing 10-year notes on Tuesday for bond redemption

By Andrea Heisinger

New York, Nov. 27 - Raytheon Co. is in the market Tuesday with a benchmark-size offering of 10-year notes (A3/A-/A-), an informed source said.

Active bookrunners are Credit Suisse Securities (USA) LLC and J.P. Morgan Securities LLC. Passive bookrunners are Bank of America Merrill Lynch, Citigroup Global Markets Inc. and UBS Securities LLC.

Proceeds will be used to fund the redemption of $575 million of 1.4% notes due December 2014 and $400 million of 1.625% notes due October 2015 and for general corporate purposes.

Raytheon was last in the market with a $1 billion sale of notes in two parts on Nov. 29, 2011.

The defense and homeland security technology company is based in Waltham, Mass.

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