Booz Allen Hamilton (BAH) disclosed in a filing that the company’s management is exploring, subject to continuing management review and to further consideration and ultimate approval by the company’s Board of Directors, the possible refinancing of approximately $959M of indebtedness outstanding under its senior secured credit facilities with funded debt under new senior secured credit facilities of up to $1.75B. The new senior secured credit facilities would also be expected to include a revolving credit facility of approximately $500M.
The net proceeds remaining after refinancing existing indebtedness, together with cash on hand of up to approximately $260M, would be expected to be used, subject to continuing management review and to further consideration and ultimate approval by the company’s Board of Directors, principally to pay a special dividend to the stockholders of Booz Allen in an amount up to approximately $1B. Booz Allen is exploring this potential refinancing and use of proceeds in connection with the ongoing evaluation of its capital structure and deployment, taking into account a currently