Booz Allen Completes Debt Refinance

Booz Allen Hamilton (NYSE: BAH) finalized the refinancing of more than $1 billion of debt outstanding under its senior secured credit facilities and $222.1 million of debt outstanding under its mezzanine credit facility.

According to the firm, “funds for refinancing the existing credit facilities came from cash on hand as well as from new secured debt incurred under its new credit facility. As a result of the refinancing, Booz Allen Hamilton now has lower interest rates on its credit facility debt and a lower overall amount of debt on its balance sheet.  Booz Allen expects the refinancing to reduce fiscal year 2012 interest expense by approximately $58 million, assuming current LIBOR rates and no prepayment of principal.”

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