BAE to refinance $2bn as part of GPS acquisition funding
BAE Systems is raising $2bn to refinance a bridging loan put in place in January.
The money was originally used to fund the $1.9bn acquisition of the Collins Aerospace Military Global Positioning System business. The deal was announced in January and completed in July.
The GPS business is a key provider on the two highest volume weapons programmes for the US Air-Force.
BAE Systems' chief executive Charles Woodburn, speaking at the time, said the acquisition was "focused on areas of highest priority defence spending [and] will... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
