Computer Sciences (CSC +2.1%) is refinancing $1B worth of debt. The IT services firm is selling...

|About: Computer Sciences Corporation (CSC)|By:, SA News Editor

Computer Sciences (CSC +2.1%) is refinancing $1B worth of debt. The IT services firm is selling $350M worth of 2.5% senior notes and $350M of 4.45% senior notes, and is also taking out a $250M term loan that carries a rate of LIBOR + 187 bps. The proceeds will be used to help redeem $300M of 5% notes, and $700M of 5.5% notes.  (PR) (Army contract)