Peraton US$5.0bn debt financing for the Perspecta acquisition (Veritas Capital)
Fund Veritas Capital's take-private of Perspecta and its combination with Peraton
Key terms
- Borrower or issuer
- Peraton
- Date
- 18 Feb 2021
- Type
- Acquisition finance
- Amount
- US$5.03bn
Recorded terms
- Structure
- Amended and restated debt commitment for US$3,735m of first-lien facilities (US$3,535m term loan and US$200m revolver) and a US$1,290m second-lien term loan; expected to be put in place as incremental facilities under Peraton's existing credit agreements
- Lenders and arrangers
- Commitment parties: JPMorgan Chase Bank, N.A., Bank of America, N.A. (BofA Securities), Macquarie Capital, Barclays, Credit Suisse, Royal Bank of Canada (RBC Capital Markets), UBS, Bank of Montreal (BMO Capital Markets), Jefferies Finance, KKR Capital Markets and KKR Corporate Lending, Mizuho, PSP Investments Credit
- Country
- United States
Parties
- Peraton borrower or issuer
- Lenders: BofA Securities, Bank of America, J.P. Morgan, Barclays, Credit Suisse, UBS, Mizuho, RBC Capital Markets, BMO Capital Markets, Jefferies
- Private credit: KKR Credit, PSP Investments Credit
Similar financings
| Date | Financing | Type | Amount |
|---|---|---|---|
| 19 Feb 2021 | AeroVironment US$300m credit facilities for the Arcturus UAV acquisition | Acquisition finance | US$300m |
| 7 Feb 2021 | Cubic US$2.5bn take-private debt financing (Veritas Capital and Evergreen) | Acquisition finance | US$2.5bn |
| 4 Mar 2021 | Teledyne US$2.15bn term loan and revolver for the FLIR acquisition | Acquisition finance | US$2.15bn |
| 22 Mar 2021 | Teledyne US$3,000m notes (5 tranches) to fund the FLIR acquisition | Acquisition finance | US$3bn |
| 2 Jul 2021 | SAIC US$100m incremental term loan for Halfaker | Acquisition finance | US$100m |
Sources
- Perspecta definitive merger proxy statement (DEFM14A): debt financing sec.gov · 2 Apr 2021
About this record
Record DEF-2021-0025, taken from an issuer, lender or government announcement. Confirmed against the primary documents listed. Amounts are as announced; US$ 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
Acquisition debt is committed before signing, often as a bridge, and refinanced with bonds or term loans once the deal closes.
