Summary
General Dynamics Corporation (GD) filed an 8-K report on March 26, 2018, detailing a change in administrative agents for its 364-Day Credit Agreement. JPMorgan Chase Bank, N.A. resigned, and Wells Fargo Bank, National Association was appointed as the successor administrative agent. This administrative change, effective March 23, 2018, under the agreement dated March 16, 2018, does not alter the terms of the credit facility itself, which remains in full force. The company also provided an important update regarding its ongoing tender offer for CSRA Inc., highlighting the increased offer price of $41.25 per share in cash and the expiration date of April 2, 2018. Investors are strongly advised to review all related SEC filings for comprehensive details on the CSRA acquisition.
Key Highlights
- 1Appointment of Wells Fargo Bank, N.A. as successor administrative agent for the 364-Day Credit Agreement, replacing JPMorgan Chase Bank, N.A.
- 2The 364-Day Credit Agreement, originally dated March 16, 2018, remains in full force and effect with modifications only pertaining to the administrative agent.
- 3The tender offer for CSRA Inc. shares has been increased to $41.25 per share in cash.
- 4The tender offer for CSRA Inc. is set to expire on April 2, 2018, unless extended.
- 5General Dynamics emphasizes the importance for CSRA shareholders to review tender offer statements and related filings for crucial information.
- 6The company has no obligation to update forward-looking statements beyond the filing date.