Alliant Techsystems to raise $300 million in sale of senior notes, use funds to buy back debt
By APWednesday, September 8, 2010
Alliant Techsystems to raise $300M in debt sale
MINNEAPOLIS — Military contractor Alliant Techsystems Inc. said Wednesday it is raising $300 million in a debt sale.
The company has begun a public offering of $300 million of senior subordinated notes due 2020.
The defense and aerospace contractor said it plans to use $280 million of the proceeds to buy back outstanding 2.75 percent convertible notes due 2024. Remaining proceeds will be used for general corporate purposes.
Shares of Alliant Techsystems gained $2.59, or 3.7 percent, to $72.75 in early afternoon trading.
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