Practice Areas - International Finance and Bank Credit Law Firms and Lawyers
| Deal Date: | 14-10-2016 | Practice Area: | International Finance and Bank Credit |
| Deal Title: | Leidos, Inc Acquisition of Lockheed Martin Information Systems Business | Industry: | Aerospace & Defence |
| Description: |
Lockheed Martin completed the separation of its Information Systems and Global Solutions business segment, merging it with a subsidiary of Leidos Holdings, Inc. through a Reverse Morris Trust transaction valued at USD4.6 billion.
Cravath represented Citibank, NA in connection with USD3.28 billion of credit facilities made available to Leidos, Inc., a wholly owned subsidiary of Leidos, and Abacus Innovations Corporation, a wholly owned subsidiary of Lockheed Martin created to facilitate the transaction, to finance the acquisition by Leidos of Abacus. The facilities included a USD690 million five-year term loan A facility and a USD750 million revolving credit facility for Leidos,Inc. and a USD400 million three-year term loan A facility, a USD310 million five-year term loan A facility and a USD1.1 billion term loan B facility for Abacus.
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| Financial Center: | New York | Value: | 1000.01-5000.00 |
| Advised Party: | Lender | Law Firm | Cravath |
| Borrower Jurisdiction: | United States | Lender Jurisdiction: | United States |
| Classification: |
Acquisition Finance Private Company Acquisition |
Lawyer | Joseph D Zavaglia |
