Leidos said its wholly owned subsidiary Leidos, Inc. issued and sold $500 million of 5.400% senior notes due 2032 and $500 million of 5.500% senior notes due 2035 on February 20, 2025.

1. 01

   Leidos said its wholly owned subsidiary Leidos, Inc. issued and sold $500 million of 5.400% senior notes due 2032 and $500 million of 5.500% senior notes due 2035 on February 20, 2025.

2. 02

   The company said it plans to use the net proceeds for general corporate purposes, including the cash tender offer for its 3.625% notes due 2025 and repayment of any remaining notes, partial repayment of its senior unsecured term loan, share repurchases, funding potential acquisitions, and paying related fees and expenses.

3. 03

   The company said interest on both notes is payable semi-annually in arrears at an annual rate on March 15 and September 15 of each year, 2 times a year, with the first interest payment due on September 15, 2025. The 2032 notes mature on March 15, 2032, and the 2035 notes mature on March 15, 2035.

4. 04

   The company said that the 2032 notes may be redeemed before January 15, 2032, and the 2035 notes before December 15, 2034, by paying a make-whole premium, and at a redemption price of 100% of principal thereafter. Upon a change of control triggering event, the company must offer to repurchase the notes at 101% of principal.

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