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Jenner & Block recently represented General Dynamics in a public offering of an aggregate of $2.4 billion of notes, guaranteed by certain of GD’s key operating subsidiaries, consisting of $900 million of 1.000% Notes due 2017, $1 billion of 2.250% Notes due 2022 and $500 million of 3.600% Notes due 2042. The transaction was launched on Thursday, November 1, 2012, and was priced later that day after a brief period of marketing by GD’s underwriters J.P. Morgan Securities, BofA Merrill Lynch, RBS Securities and Wells Fargo Securities. The offering was completed on November 6, 2012.
General Dynamics plans to use the proceeds of the offering to refinance $2.4 billion in aggregate principal amount of notes maturing in 2013, 2014 and 2015.
The multi-disciplinary Firm team was led by Partner Jeffrey R. Shuman and included Partners Geoffrey M. Davis, E. Lynn Grayson, Joseph P. Gromacki and William L. Tolbert, Jr.; Associates Alexandra E. Dowling and Alexander J. May; and Senior Paralegal Michael L.Whitchurch.