StockMarketWire.com - Defence company BAE Systems said it would privately sell U.S. $1bn bonds paying 1.900% interest per year that would mature on 15 February 2031 and of U.S.$1bn paying 3.000% interest per year that would mature on 15 September 2050.

The net proceeds of the offering would be used predominantly to refinance up to $1.925bn of outstanding debt under the bridge loan facility agreement dated January 17, 2020, incurred to fund the acquisition of the Collins Aerospace Military global positioning system business on 31 July 2020.

The offering was expected to close on or about 15 September 2020.





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