Vista Outdoor Inc. upped the amount of its pending private debt offering by $50 million and said the notes will have an interest rate of 5.875 percent per annum and be issued at a price equal to 100.0 percent of their principal amount.
The increase boosts the aggregate principal amount of senior notes to $350 million. The Notes will be senior unsecured obligations of Vista Outdoor and will be guaranteed on a senior unsecured basis by certain of its existing and future domestic subsidiaries. They are due in 2023.
The Utah-based company, which closed a $412.5 million acquisition of CamelBak Products Inc. July 30 and a $40 million acquisition of Jimmy Styx LLC a week earlier, intends to use the net proceeds from the offering to repay a portion of its existing indebtedness and for general corporate purposes.
