L-3 Communications Prices $1 Bln Senior Notes Offering - Quick Facts

(RTTNews) - L-3 Communications Corp, the wholly owned subsidiary of L-3 Communications (LLL), Tuesday priced an offering of $1 billion in aggregate principal amount of senior notes.

The senior notes are being issued in two tranches - $350 million of three-year senior notes bearing interest at a fixed rate of 1.50 percent per year and maturing on May 28, 2017, and $650 million of 10-year senior notes bearing interest at a fixed rate of 3.95% per year and maturing on May 28, 2024.

A portion of the net proceeds from the offering will be used to fund the conversion payment obligation and the redemption price of the company's 3.0 percent Convertible Contingent Debt Securities due August 1, 2035.