Wednesday, Spirit AeroSystems Inc., a subsidiary of Spirit AeroSystems Holdings Inc. (SPR) completed its previously announced private offering of $300 million aggregate principal amount of its 7 1/2% senior unsecured notes due 2017. The Notes were sold in a private placement pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended.
The company noted that the notes were sold at a price equal to 97.804% of the principal amount thereof, resulting in gross proceeds from this offering of approximately $293.4 million. The net proceeds from the offering will be used to repay borrowings under Spirit's existing senior secured revolving credit facility without any reduction of the lenders' commitment thereunder, for general corporate purposes and to pay fees and expenses incurred in connection with the offering.
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