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L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Corporate Update (Nov 14, 2019)

Reports
Other Events·Exhibits & Filings
Filing Date
Filed November 14, 2019
Period End
November 14, 2019
Security
LHX
In the record · 2016–202610-K1110-Q328-K177

LHX filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 177 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Jun ’18Jun ’18
  2. Leadership change8-K · Sep ’22Sep ’22
  3. Leadership change8-K · Aug ’26Aug ’26

01—Abstract

Summary

Summary of the 8-K filed November 14, 2019. Cited figures are marked; the original filing is the authoritative source.

L3Harris Technologies, Inc. (LHX) announced on November 13, 2019, the execution of an underwriting agreement for a public offering of $400 milliona 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 millionb 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.

02—Key points

Key Highlights

  1. Announced a $400 million offering of 2.900% Notes due 2029.
  2. The offering is being conducted via an underwritten public offering.
  3. Proceeds will be used for general corporate purposes, including the redemption of existing debt.
  4. Plans to redeem $400 million of 2.700% Notes due April 2020.
  5. The redemption of the 2.700% Notes is scheduled for December 16, 2019.
  6. The new note offering is expected to close on November 27, 2019.
  7. The offering is made under the Company's effective Form S-3 registration statement.

03—Questions

Frequently Asked Questions

  1. What is the primary reason for issuing the new $400 million in notes?

    The primary reason for issuing the new 2.900% Notes due 2029 is to redeem in full the Company's outstanding $400 million of 2.700% Notes due April 2020. Any remaining proceeds will be used for general corporate purposes.

  2. When will the new notes be issued and the old notes be redeemed?

    The new $400 million of 2.900% Notes due 2029 are expected to close on November 27, 2019. The $400 million of 2.700% Notes due April 2020 will be redeemed on December 16, 2019.

  3. What is the interest rate on the new notes and their maturity date?

    The new notes will carry a coupon rate of 2.900% and will mature in 2029.

  4. Are there any specific conditions for the closing of the new note offering?

    Yes, the closing of the new note offering is subject to customary closing conditions as outlined in the underwriting agreement.

04—Continue

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