Kratos refinances $300M 6.5% senior notes with new $400M bank credit facility

KRATOS DEFENSE & SECURITY SOLUTIONS, INC.

New 5-year facility: $200M revolver (drawn $100M) and $200M term loan A (drawn $200M).
Proceeds used to redeem $300M 6.5% Senior Secured Notes at 103.25% of par plus accrued interest.
Expected annual cash interest savings of $10M to $13M; one-time Q1 charges of $13M to $15M.
Redemption expected to close March 14, 2022; $100M remaining revolver capacity.

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