BAE Systems sells $1.1bn in long-term debt
Updated : 07:34
Defence engineering outfit BAE Systems has placed a total of $1.1bn in long-term notes to finance general corporate purposes, including the repayment of indebtedness.
The first tranche of instruments, which has been placed amongst institutional investors, consists of $800m in notes maturing on 7 October 2024 and paying 3.8% interest. Another tranche of $300m, which offers 4.75% interest, matures on 7 October 2044.
The offering is due to close on 7 October 2014.