Spirit AeroSystems begins tender for $300 million 5.25% notes due 2022

By Tali Rackner

Minneapolis, May 22 – Spirit AeroSystems Holdings, Inc. wholly owned subsidiary Spirit AeroSystems Inc. began a cash tender offer for any and all of the $300 million outstanding principal amount of its 5.25% senior notes due March 15, 2022, according to a filing with the Securities and Exchange Commission.

The purchase price will be $1,028.50 per $1,000 principal amount.

Holders will also receive accrued interest up to but excluding the settlement date.

The tender offer will run until 5 p.m. ET on May 29.

The purpose of the offer “is to retire debt associated with the notes,” the filing said.

Tendered notes may be withdrawn before the end of the offer.

The tender offer is contingent upon the satisfaction of various conditions, including the company obtaining proceeds from a proposed debt financing. It is not contingent upon the tender of any minimum principal amount of notes.

BofA Merrill Lynch (888 292-0070 or 980 387-2113) is the dealer manager. Global Bondholder Services Corp. (866 470-4500, 212 430-3774 or gbsc-usa.com/Spirit) is the depositary and information agent.

Spirit AeroSystems is a Wichita, Kan.-based maker of commercial and military airplane components, including fuselages, propulsion systems and wings.

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