Deals this week: General Dynamics Corporation, Inmarsat
General Dynamics Corporation, an American multi-national corporation, will raise $500m by issuing seven-year senior secondary notes in a public offering that is expected to be closed on 12 August.
The notes have an annual interest rate of 1.875%, payable semi-annually, and are guaranteed by American Overseas Marine Company, Bath Iron Works Corporation, Electric Boat Corporation, General Dynamics Government Systems Corporation, General Dynamics Land Systems, General Dynamics Ordnance and Tactical Systems, General Dynamics-OTS, Gulfstream Aerospace Corporation, and National Steel and Shipbuilding Company.
General Dynamics has also issued ten-year senior secondary notes in a public offering to raise $500m. The notes bear an interest rate of 2.125% per annum.
British satellite telecommunications company, Inmarsat, has entered into an agreement with Navarino to integrate its Fleet Xpress in over 1,200 vessels.
The installation of the Fleet Xpress satellite communications service in Navarino’s vessels will be completed over a period of six years.
Navarino is a Greek firm offering maritime telecommunications and satellite communications services.