Leidos US$2.68bn unsecured term loan A and revolver (2020)
Repay in full the secured 2016 credit agreements and release their liens
Key terms
- Borrower or issuer
- Leidos
- Date
- 17 Jan 2020
- Type
- Bank facility
- Amount
- US$2.67bn
- Pricing
- LIBOR + 1.125% upwards (ratings grid)
- Maturity
- 2025 (five years, with two one-year extensions)
Recorded terms
- Structure
- US$1.925bn senior unsecured term loan A and US$750m senior unsecured revolver
- Lenders and arrangers
- Citibank, N.A., administrative agent
- Country
- United States
Parties
Similar financings
| Date | Financing | Type | Amount |
|---|---|---|---|
| 7 Feb 2020 | KBR US$1.795bn senior secured credit facilities refinancing | Bank facility | US$1.79bn |
| 20 Dec 2019 | Ducommun US$140m senior secured term loan A | Bank facility | US$140m |
| 26 Mar 2020 | Saab SEK 4bn revolving credit facility (2020) | Bank facility | SEK 4bn |
| 30 Oct 2019 | Teledyne US$150m term loan | Bank facility | US$150m |
| 30 Sep 2019 | Raytheon US$1.25bn revolving credit facility | Bank facility | US$1.25bn |
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 |
| 10 Mar 2023 | Leidos US$2.0bn unsecured term loan and revolver (2023) | Bank facility | US$2bn |
| 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 |
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$4.6bn |
Sources
- Leidos Form 8-K: new credit agreement sec.gov · 17 Jan 2020
About this record
Record DEF-2020-0028, taken from an issuer, lender or government announcement. Confirmed against the primary documents listed. Amounts are as announced; US$ 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.
