SPR - Spirit AeroSystems offers class A common stock exchangeable senior notes

2023-11-07 16:43:00 ET

• Spirit AeroSystems ( NYSE: SPR ) Tuesday said it commenced an underwritten public offering of $200M of its Class A common stock to fund its general corporate needs.
• The company also announced the offering of $200M aggregate principal amount of its exchangeable senior notes due 2028.
• Additionally, Spirit said it intends to grant the initial purchasers of the notes an option to purchase up to an additional $30M aggregate principal amount of exchangeable notes.
• The said notes would be senior, unsecured obligations of Spirit and would be fully and unconditionally guaranteed on a senior, unsecured basis by the company and its unit, Spirit AeroSystems North Carolina.
• The notes would accrue interest payable semi-annually in arrears on May 1 and Nov. 1 of each year, beginning on May 1, 2024.
• The exchangeable notes would mature on Nov. 1, 2028, unless earlier exchanged, redeemed, or repurchased.
• SPR -10.24% after hours to $22.1
• Source: Press Release

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