Leidos Holdings, Inc. Commences Tender Offer for 3.625% Senior Notes Due 2025

Leidos Holdings, Inc. (NYSE:LDOS) has recently disclosed in an 8-K filing that its wholly-owned subsidiary, Leidos, Inc., has embarked on a cash tender offer to acquire all of its outstanding 3.625% Senior Notes due 2025, totaling $500,000,000. The company introduced this tender offer through an offer to purchase, initiated on February 13, 2025.

The offer, in connection with the terms delineated in the Offer to Purchase, is set to close at 5:00 p.m. Eastern Time (ET) on February 20, 2025, unless extended or terminated earlier based on the conditions specified. Holders of the 2025 Notes are encouraged to thoroughly review the Offer Documents before deciding to participate.

Leidos detailed that the Tender Offer will determine the Notes Consideration for each $1,000 principal amount of the 2025 Notes, not withdrawn, by referencing the fixed spread for the 2025 Notes and the yield based on the U.S. Treasury Reference Security bid-side price, quoted on the Bloomberg Bond Trader FIT3 pages on February 20, 2025.

The completion of the Tender Offer is subject to certain conditions, including Leidos successfully concluding an Offering of new senior notes, resulting in adequate net proceeds for repurchasing tendered 2025 Notes and reimbursing the remaining notes’ holders in accordance with the indenture’s satisfaction and discharge terms.

Citigroup Global Markets Inc., J.P. Morgan Securities LLC, and U.S. Bancorp Investments serve as the Dealer Managers for the Tender Offer. Global Bondholder Services Corporation acts as the depositary agent and information agent.

It is crucial to note that none of the involved entities are making any recommendations regarding the participation in the Tender Offer, leaving the decision entirely to the Holders.

This press release contained forward-looking information as of February 13, 2025, highlighting potential risks or uncertainties that could impact future business activities. For further details on the risks associated with this transaction and the business, refer to Leidos’ filings with the U.S. Securities and Exchange Commission.

For more information or clarification regarding the Tender Offer, individuals can visit the dedicated Tender Offer website or contact Global Bondholder Services Corporation for detailed assistance.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Leidos’s 8K filing here.

Leidos Company Profile

Leidos Holdings, Inc, together with its subsidiaries, provides services and solutions in the defense, intelligence, civil, and health markets in the United States and internationally. The company operates through Defense Solutions, Civil, and Health segments. The Defense Solutions segment offers national security solutions and systems for air, land, sea, space, and cyberspace for the U.S.