Leidos US$2.0bn unsecured term loan and revolver (2023)
Repay in full the 2020 credit agreement
Key terms
- Borrower or issuer
- Leidos
- Date
- 10 Mar 2023
- Type
- Bank facility
- Amount
- US$2bn
- Pricing
- Term SOFR + 1.000% upwards (ratings grid)
- Maturity
- 2028 (five years; revolver extendable twice by one year)
Recorded terms
- Structure
- US$1.0bn senior unsecured term loan and US$1.0bn senior unsecured revolver
- Lenders and arrangers
- Citibank, N.A., administrative agent
- Country
- United States
Parties
Similar financings
| Date | Financing | Type | Amount |
|---|---|---|---|
| 28 Feb 2023 | V2X US$750m term loan A and revolving credit facility | Bank facility | US$750m |
| 29 Nov 2022 | Leonardo DRS US$500m term loan A and revolving credit facility | Bank facility | US$500m |
| 12 Oct 2022 | BWX Technologies US$1.0bn secured credit facility (2022) | Bank facility | US$1bn |
| 7 Sep 2022 | Booz Allen Hamilton US$2.65bn term loan A and revolver refinancing (2022) | Bank facility | US$2.65bn |
| 24 Aug 2022 | Lockheed Martin US$3.0bn revolving credit facility (2022) | Bank facility | US$3bn |
More from Leidos
| Date | Financing | Type | Amount |
|---|---|---|---|
| 20 Feb 2026 | Leidos US$1,400m senior notes (2 tranches) | Bond | US$1.4bn |
| 18 Feb 2025 | Leidos US$1,000m senior notes (2 tranches) | Bond | US$1bn |
| 17 Feb 2023 | Leidos US$750m 5.750% notes due 2033 | Bond | US$750m |
| 9 Oct 2020 | Leidos US$1,000m 2.300% notes due 2031 | Bond | US$1bn |
| 12 May 2020 | Leidos US$1,750m senior notes (3 tranches) | Bond | US$1.75bn |
| 12 Feb 2020 | Leidos US$1.0bn delayed-draw term loan for the L3Harris security detection acquisition | Bank facility | US$1bn |
M&A and investment involving Leidos
| Date | Deal | Type | Value |
|---|---|---|---|
| 4 May 2020 | Leidos acquisition of L3Harris security detection businesses | M&A | US$1bn |
| 31 Jan 2020 | Leidos acquisition of Dynetics | M&A | US$1.65bn |
| 16 Aug 2016 | Leidos combination with Lockheed Martin IS&GS | M&A | US$4.6bn |
Sources
- Leidos Form 8-K: new credit agreement sec.gov · 14 Mar 2023
About this record
Record DEF-2023-0021, taken from an issuer, lender or government announcement. Confirmed against the primary documents listed. Amounts are as announced; US$ 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.
