Huntington Ingalls Industries US$650m delayed-draw term loan for the Alion acquisition
Finance part of the purchase price for Alion Science and Technology, with the US$1.0bn of senior notes
Key terms
- Borrower or issuer
- Huntington Ingalls Industries
- Date
- Aug 2021
- Type
- Bank facility
- Amount
- US$650m
- Pricing
- LIBOR + 1.125% to 2.000% (ratings grid); 1.375% at 30 September 2021
- Maturity
- 36 months from first draw
Recorded terms
- Structure
- Three-year delayed draw term loan
- Lenders and arrangers
- JPMorgan Chase Bank, N.A., administrative agent, sole lead arranger and sole bookrunner; Bank of America, N.A., MUFG Bank, Mizuho Bank, The Bank of Nova Scotia, U.S. Bank and Wells Fargo Bank, documentation agents
- Country
- United States
Parties
- Huntington Ingalls Industries borrower or issuer
- Lenders: Bank of America, J.P. Morgan, Wells Fargo, Mizuho, MUFG, Scotiabank, US Bancorp
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|---|---|---|---|
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| 29 May 2026 | V2X US$869m first lien term loan repricing (2026) | Bank facility | US$868.5m |
More from Huntington Ingalls Industries
| Date | Financing | Type | Amount |
|---|---|---|---|
| 14 Nov 2024 | Huntington Ingalls Industries US$1,000m senior notes (2 tranches) | Bond | US$1bn |
| 17 Sep 2024 | Huntington Ingalls Industries US$1.7bn revolving credit facility (2024) | Bank facility | US$1.7bn |
| 10 Aug 2021 | Huntington Ingalls Industries US$1,000m senior notes (2 tranches) | Bond | US$1bn |
| 27 Mar 2020 | Huntington Ingalls Industries US$1,000m senior notes (2 tranches) | Bond | US$1bn |
| 17 Nov 2017 | Huntington Ingalls Industries US$600m 3.483% senior notes due 2027 | Bond | US$600m |
| 2 Nov 2015 | Huntington Ingalls Industries US$600m 5.000% senior notes due 2025 | Bond | US$600m |
M&A and investment involving Huntington Ingalls Industries
| Date | Deal | Type | Value |
|---|---|---|---|
| 20 Aug 2021 | HII acquisition of Alion Science and Technology | M&A | US$1.65bn |
Sources
- Huntington Ingalls Industries Form 10-Q, Q3 2021: term loan sec.gov · 4 Nov 2021
- Huntington Ingalls Industries: term loan credit agreement (Exhibit 10.2) sec.gov · 4 Nov 2021
About this record
Record DEF-2021-0017, taken from an issuer, lender or government announcement. Confirmed against the primary documents listed. Amounts are as announced; US$ equivalents use approximate annual average exchange rates. Spotted an error or have a document we have missed? Send a correction, and changes are logged on Updates and corrections.
Read the structure
A revolving or term facility is a relationship loan from a bank group, priced at a margin over a reference rate, with financial covenants and an agent.
