Jenner & Block

Firm Represents General Dynamics in $1.0 Billion Bond Offering

On September 14, Jenner & Block client General Dynamics completed a public offering of an aggregate of $1.0 billion of notes that are guaranteed by certain of the client’s key operating subsidiaries. The notes consist of $500 million of 2.375% Notes due 2024 and $500 million of 2.625% Notes due 2027. This public offering was registered with the Securities and Exchange Commission using the client’s shelf registration statement that we filed in March 2015. The transaction was launched on Monday, September 11 and was priced later that day after a brief period of marketing by the client’s underwriters, led by J.P. Morgan Securities, BofA Merrill Lynch and BBVA Securities. The client plans to use the net proceeds of the offering to repay $900 million principal amount of existing notes upon their maturity in November and for general corporate purposes.

The Jenner & Block team was led by Partners Joseph P. Gromacki and Brian R. Boch and included Partner David M. Lynn and Brian S. Hart and Associates Jeremy A. Casper and Amy Inagaki from the Corporate Practice; Partner E. Lynn Grayson from the Environmental and Workplace Health and Safety Practice; Partner Geoffrey M. Davis and Associate Rafi W. Mottahedeh from the Tax Practice and Associate Grant B. Schweikert from the Government Contracts Practice.