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L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Corporate Update (Jul 31, 2023)

Reports
Other Events·Exhibits & Filings
Filing Date
Filed July 31, 2023
Period End
July 27, 2023
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. Deal closed8-K · May ’17May ’17
  2. Deal closed8-K · Jul ’19Jul ’19
  3. Leadership change8-K · Sep ’22Sep ’22
  4. Leadership change8-K · Aug ’26Aug ’26

01—Abstract

Summary

Summary of the 8-K filed July 31, 2023. Cited figures are marked; the original filing is the authoritative source.

L3Harris Technologies, Inc. (LHX) has filed an 8-K report to disclose the closing of a significant debt offering.

The company successfully issued and sold a total of $3.25 billiona in aggregate principal amount of senior notes across three tranches: $1.25 billion of 5.400% Notes due 2027, $1.5 billion of 5.400% Notes due 2033, and $500 million of 5.600% Notes due 2053. This offering was conducted under the company's existing shelf registration statement. This substantial capital raise suggests L3Harris is either funding existing or future strategic initiatives, potential acquisitions, or refinancing existing debt.

Investors should note the specific coupon rates and maturity dates of these notes, which indicate the cost of capital and the long-term nature of this financing. The issuance was managed by BofA Securities, Inc. and J.P. Morgan Securities LLC.

02—Key points

Key Highlights

  1. L3Harris Technologies closed on the issuance and sale of $3.25 billion in aggregate principal amount of senior notes.
  2. The debt offering includes three tranches: $1.25 billion of 5.400% Notes due 2027, $1.5 billion of 5.400% Notes due 2033, and $500 million of 5.600% Notes due 2053.
  3. The notes were issued under the company's automatic shelf registration statement filed on February 28, 2023.
  4. The offering was underwritten by BofA Securities, Inc. and J.P. Morgan Securities LLC.
  5. The debt issuance provides L3Harris with significant capital, potentially for strategic investments, acquisitions, or debt management.
  6. The filing includes relevant documentation such as the Prospectus Supplement and the Underwriting Agreement.

03—Questions

Frequently Asked Questions

  1. What is the total amount of debt L3Harris Technologies raised?

    L3Harris Technologies raised a total of $3.25 billion in aggregate principal amount of senior notes.

  2. What are the interest rates and maturity dates for the new notes?

    The notes have the following terms: $1.25 billion of 5.400% Notes due 2027, $1.5 billion of 5.400% Notes due 2033, and $500 million of 5.600% Notes due 2053.

  3. Why did L3Harris issue these new notes?

    While the specific use of proceeds is not detailed in this 8-K filing, large debt issuances like this are typically used to fund strategic growth initiatives, potential acquisitions, capital expenditures, or to refinance existing debt obligations. Investors should refer to other company disclosures or future financial reports for more specific information on the use of funds.

  4. Who were the primary underwriters for this debt offering?

    The offering was underwritten by BofA Securities, Inc. and J.P. Morgan Securities LLC, on behalf of themselves and other underwriters.

04—Continue

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