Science Applications International Corporation Closes $500M Senior High Yield Notes Offering

Science Applications International Corporation (SAIC), a leading provider of technical, engineering and enterprise information technology services, brought Faegre Drinker on as legal counsel to help close its $500 million senior high yield notes offering. The company plans to use the proceeds of the high yield offering to repay SAIC’s obligations under its existing credit facility and to pay estimated fees and expenses of the offering of the notes, with any remaining net proceeds being used for general corporate purposes, including working capital to fund growth and potential strategic projects and transactions. Concurrently with the high yield notes offering, SAIC executed a new $1.1 billion senior secured term loan “A” credit facility.