Spirit AeroSystems Raises $900M Via Debt Offering

  • Spirit AeroSystems Holdings Inc SPR subsidiary, Spirit AeroSystems Inc, has priced a private offering of $900 million of 9.375% Senior Secured First Lien Notes due 2029.
  • The offering was increased to $900 million from the previously announced offering size of $800 million.
  • Spirit plans to use the net proceeds from the offering to fund a tender offer for any and all of the $500 million outstanding principal amount of its 5.500% Senior Secured First Lien Notes due 2025.
  • It will also use the proceeds to redeem Spirit's outstanding 3.950% Senior Notes due 2023 and to pay related premiums, fees and expenses incurred in connection with the foregoing.
  • The closing of the offering is expected to occur on or about November 23, 2022.
  • Interest on the Notes will be payable semi-annually on May 30 and November 30 of each year, beginning on May 30, 2023.
  • Price Action: SPR shares closed higher by 0.62% at $27.39 on Tuesday.
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Posted In: NewsOfferingsGeneralBriefs
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