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ADS Tactical eyes late week pricing for $275 million seven-year notes
By Paul A. Harris
Portland, Ore., March 14 - ADS Tactical Inc. plans to price a $275 million offering of seven-year senior secured notes (B3/B) late in the March 14 week, according to a market source.
J.P. Morgan Securities LLC is leading the offering.
The notes come with four years of call protection. However, a special call provision allows the issuer to redeem 10% of the notes annually at 103 during the non-call period.
The Virginia Beach, Va.-based provider of military equipment plans to use the proceeds to repay debt and fund a dividend.
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