Teledyne US$2.15bn term loan and revolver for the FLIR acquisition
Fund part of the cash consideration for the FLIR Systems acquisition and related costs
Key terms
- Borrower or issuer
- Teledyne Technologies
- Date
- 4 Mar 2021
- Type
- Acquisition finance
- Amount
- US$2.15bn
- Pricing
- LIBOR or base rate plus a margin set by Teledyne's debt rating
- Maturity
- 2026-03-04
Recorded terms
- Structure
- US$1.0bn unsecured five-year term loan credit agreement plus an amended and restated revolving credit agreement rising from US$750m to US$1.15bn at closing of the FLIR mergers; together they replaced part of the US$4.5bn bridge commitment
- Lenders and arrangers
- Bank of America, N.A., administrative agent (term loan and revolver); BofA Securities and Bank of America, N.A., bridge commitment
- Country
- United States
Parties
- Teledyne Technologies borrower or issuer
- Lenders: BofA Securities, Bank of America
Similar financings
| Date | Financing | Type | Amount |
|---|---|---|---|
| 19 Feb 2021 | AeroVironment US$300m credit facilities for the Arcturus UAV acquisition | Acquisition finance | US$300m |
| 5 Aug 2022 | QinetiQ £350m debt facilities for the Avantus acquisition | Acquisition finance | £350m |
| 22 Nov 2022 | L3Harris US$2.25bn term loan for the Viasat tactical data links acquisition | Acquisition finance | US$2.25bn |
| 13 Feb 2019 | TransDigm US$4.0bn 6.25% senior secured notes due 2026 for the Esterline acquisition | Acquisition finance | US$4bn |
| 31 Oct 2018 | SAIC US$2.1bn term loans for the Engility merger | Acquisition finance | US$2.12bn |
More from Teledyne Technologies
| Date | Financing | Type | Amount |
|---|---|---|---|
| 10 Jun 2024 | Teledyne US$1.2bn revolving credit facility (2024) | Bank facility | US$1.2bn |
| 22 Mar 2021 | Teledyne US$3,000m notes (5 tranches) to fund the FLIR acquisition | Acquisition finance | US$3bn |
| 30 Oct 2019 | Teledyne US$150m term loan | Bank facility | US$150m |
| 18 Apr 2017 | Teledyne €250m senior notes private placement (2017) | Bond | €250m |
| 17 Mar 2017 | Teledyne US$100m term loan for the e2v acquisition | Acquisition finance | US$100m |
M&A and investment involving Teledyne Technologies
| Date | Deal | Type | Value |
|---|---|---|---|
| 3 Feb 2025 | Teledyne acquisition of Excelitas aerospace and defence electronics businesses | M&A | US$710m |
| 14 May 2021 | Teledyne acquisition of FLIR Systems | M&A | US$8.2bn |
| 28 Mar 2017 | Teledyne acquisition of e2v | M&A | US$789m |
Sources
- Teledyne Form 8-K: term loan and amended credit agreement sec.gov · 4 Mar 2021
About this record
Record DEF-2021-0018, taken from an issuer, lender or government announcement. Confirmed against the primary documents listed. Amounts are as announced; US$ 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.
