Neel Mehta
DynCorp International Inc. announced today Cerberus Capital Mangement L.P.’s subsidiary, Delta Tucker Sub, will sell $455 million aggregate principal amount of senior notes to assist the funds of Cerberus’ acquisition of DynCorp.
DynCorp will assume the obligations once the acquisition is completed, which could occur as early as the end of this month. The proceeds of the notes will go toward DynCorp’s debt, as well as all finances resulting from the merger.
In a press release, DynCorp also announced about 99.4 percent of holders of the Senior Subordinated Notes had tendered their notes. The shares closed on Friday at $17.32.
