Summary
L3Harris Technologies, Inc. (LHX) announced on November 13, 2019, the execution of an underwriting agreement for a public offering of $400 million in aggregate principal amount of 2.900% Notes due 2029. These new notes are being issued under the company's existing registration statement on Form S-3. The primary purpose of this debt offering is to fund the full redemption of its $400 million aggregate principal amount of 2.700% Notes due April 2020, along with associated interest, fees, and expenses. The redemption of the existing notes is scheduled for December 16, 2019, while the closing of the new note offering is expected on November 27, 2019. The net proceeds not used for the redemption will be allocated for general corporate purposes.
Key Highlights
- 1Announced a $400 million offering of 2.900% Notes due 2029.
- 2The offering is being conducted via an underwritten public offering.
- 3Proceeds will be used for general corporate purposes, including the redemption of existing debt.
- 4Plans to redeem $400 million of 2.700% Notes due April 2020.
- 5The redemption of the 2.700% Notes is scheduled for December 16, 2019.
- 6The new note offering is expected to close on November 27, 2019.
- 7The offering is made under the Company's effective Form S-3 registration statement.