KBR offers $350M of convertible senior notes due 2023

|By:, SA News Editor

KBR (NYSE:KBR) intends to offer $350M of convertible senior notes due 2023.

Initial over-allotment is an additional $52.5M of notes.

KBR intends to use a portion of the net proceeds to reduce senior secured debt by repaying a portion of the outstanding indebtedness under its senior secured credit facilities, to maximize committed capital to fund ongoing investments and the remaining net proceeds to pay the cost of the convertible note hedge transactions.

The notes will bear interest semi-annually and will mature on November 1, 2023.

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