(RTTNews) - Science Applications International Corp. (SAIC), Monday announced its plan to commence an offering of $500 million aggregate principal amount of senior notes due 2033.
The company intends to use the amount to repay all indebtedness outstanding under its revolving credit facility and to pay estimated fees and expenses related to the offering.
Additionally, it plans to use any remaining net proceeds for corporate-related purposes, including working capital to fund growth and potential strategic projects and transactions.
In the pre-market hours, SAIC is trading at $103.26, down 0.59 percent on the Nasdaq.
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