Summary
This 8-K filing from L3Harris Technologies (then Harris Corporation) on June 13, 2019, announces the results of an early participation in its previously announced debt exchange offers. Harris solicited eligible holders to exchange existing L3 Technologies, Inc. senior notes for new notes issued by Harris and/or cash. The exchange offers covered several tranches of L3 notes maturing between 2021 and 2028. This action is a direct consequence of the impending merger between L3 Technologies and Harris Corporation, which was a significant event for the combined entity, creating a new defense technology powerhouse.
Key Highlights
- 1Announcement of early participation results for a debt exchange offer.
- 2L3 Technologies' existing senior notes due 2021, 2023, 2024, 2026, and 2028 were part of the exchange.
- 3New notes to be issued by Harris Corporation, with an aggregate principal amount of up to $3.35 billion.
- 4The exchange offer also included an option to receive cash in addition to new notes.
- 5This initiative is directly related to the pending merger between L3 Technologies and Harris Corporation, aiming to consolidate and refinance debt.
- 6The press release attached as Exhibit 99.1 contains further details on the offer terms and results.