Aerojet Rocketdyne Prices $260 Million Private Offering

Aerojet Rocketdyne Holdings said pre-market Friday it priced an offering of $260 million aggregate principal amount of its 2.25% convertible senior notes due 2023 in a private placement.

The offering is expected to close on Dec. 14. Aerojet Rocketdyne granted the initial purchasers of the notes an option, exercisable within 30 days, to purchase up to an additional $40 million aggregate principal amount of the notes.

The company said it will use the net proceeds from the offering to repay its revolving credit facility, redeem certain of its outstanding indebtedness, and for general corporate purposes.

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