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Kratos Defense & Security Solutions Inc. (KTOS) was slightly lower in Friday’s late session and the government contractor tonight pricing a $625 million offering of its 7.0% senior secured notes due 2019 at 98.966% of par.
KTOS plans to use proceeds to refinance its existing 10% senior secured notes maturing in 2017. The deal is expected to close next Wednesday, May 14.
KTOS shares were down 0.4% at $7.46 each in Friday’s after-market, down 3 cents, almost erasing all of its 4-cent gain during today’s regular session, climbing 0.5%.