8th Apr 2020 09:37
(Alliance News) - Defence firm BAE Systems PLC on Wednesday said it has issued notes worth USD1.30 billion which will offer funding to its post employment benefit plans.
The notes carry a 3.400% annual interest rate and mature on April 15, 2030.
"The net proceeds of the offering will be used to fund part of BAE Systems' post-employment benefit plans deficit or repay certain amounts then outstanding under BAE Systems' short-term commercial paper program that will be used to fund part of BAE Systems' post-employment benefit plans deficit," the company said.
BAE added the offering is expected to close on April 14, 2020.
Its shares were trading 0.4% lower at 526.20 pence each in London on Wednesday morning.
By Eric Cunha; [email protected]
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