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AAR Corp. (AIR) just unveiled an announcement.
On March 1, 2024, AAR Escrow Issuer, LLC, a subsidiary of the Company, raised $550 million through the issuance of 6.750% Senior Notes due in 2029 to help finance the acquisition of Triumph Group Product Support Business. These notes, which will pay interest semiannually and mature on March 15, 2029, are backed by guarantees from the Company’s domestic subsidiaries. The Company also made amendments to its revolving credit facility, increasing its commitments to $825 million and adjusting financial covenants. This strategic move, not registered under the Securities Act, aims to support the Company’s growth and strengthen its financial position.
See more insights into AIR stock on TipRanks’ Stock Analysis page.
