By Ben Glickman
Spirit AeroSystems will launch a $1.2 billion private placement of senior secured notes, effectively pushing out certain debt maturities by five years.
The Wichita, Kan.-based airplane-part manufacturer said the proceeds from the private offering, as well as cash on hand, would be used to fund a tender offer for whatever is outstanding on its $1.2 billion in notes due 2025. The new notes will be due 2030.
The company said any remaining proceeds from the offering would be used for general corporate purposes.
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