QinetiQ £350m debt facilities for the Avantus acquisition
Fund the US$590m all-cash acquisition of Avantus Federal
Key terms
- Borrower or issuer
- QinetiQ
- Date
- 5 Aug 2022
- Type
- Acquisition finance
- Amount
- £350m (US$433m)
Recorded terms
- Structure
- Fully committed new debt facilities alongside existing cash; the existing £275m revolving credit facility (undrawn) stays in place
- Lenders and arrangers
- Not named in the announcement
- Country
- United Kingdom
Parties
- QinetiQ borrower or issuer
Similar financings
| Date | Financing | Type | Amount |
|---|---|---|---|
| 22 Nov 2022 | L3Harris US$2.25bn term loan for the Viasat tactical data links acquisition | Acquisition finance | US$2.25bn |
| 15 Nov 2023 | TransDigm US$1.0bn 7.125% senior secured notes due 2031 for the CPI Electron Device acquisition | Acquisition finance | US$1bn |
| 5 Dec 2023 | Hensoldt acquisition financing for ESG | Acquisition finance | €675m |
| 22 Mar 2021 | Teledyne US$3,000m notes (5 tranches) to fund the FLIR acquisition | Acquisition finance | US$3bn |
| 4 Mar 2021 | Teledyne US$2.15bn term loan and revolver for the FLIR acquisition | Acquisition finance | US$2.15bn |
Sources
- QinetiQ Group plc presentation: acquisition of Avantus qinetiq.com · 5 Aug 2022
About this record
Record DEF-2022-0016, taken from an issuer, lender or government announcement. Confirmed against the primary documents listed. Amounts are as announced; US$ 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.
