Astronics Prices Private Offering Of $210 Mln Of Senior Notes
(RTTNews) - Astronics Corporation (ATRO) said on Thursday that it has priced a private offering of $210 million aggregate principal amount of 0% convertible senior notes due 2031. The offering is expected to close on September 16.
The company has also granted the initial purchasers of the notes an option to purchase up to an additional $15 million of the notes.
Astronics intends to use around $25.1 million of the net proceeds from this offering to enter into the capped call transactions. In addition, it will utilize approximately $177 million of the net proceeds, together with $108.8 million of debt, to repurchase around $132 million of its outstanding 5.500% convertible senior notes due 2030.
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