Spirit AeroSystems has commenced an offer to purchase for cash any and all of the $1.2 billion outstanding principal amount of its 7.500% senior secured second lien notes due 2025.
The offer is subject to, and conditioned upon, the satisfaction or waiver of certain conditions, including a condition that the Spirit raises $1.2 billion in gross proceeds from the issuance of new senior secured debt securities. Spirit intends to fund the purchase of the 2025 Second Lien Notes pursuant to the Tender Offer with the net proceeds from such debt financing.
Morgan Stanley is acting as the sole dealer manager.