Leidos, Inc. Announces Pricing Terms of Cash Tender Offer for Any and All 3.625% Senior Notes Due 2025

Core Viewpoint - Leidos Holdings, Inc. announced the pricing terms for a cash tender offer to purchase all outstanding 3.625% Senior Notes due 2025, with the offer set to expire on February 20, 2025 [1][4]. Summary by Sections Tender Offer Details - The tender offer is for the 3.625% Senior Notes due 2025, with a total principal amount of $500 million [3]. - The consideration for each$1,000 principal amount of the 2025 Notes validly tendered is $998.30, based on a fixed spread and the yield of the U.S. Treasury Reference Security [2][3]. - Holders will also receive accrued and unpaid interest from November 15, 2024, up to the expected settlement date of February 25, 2025 [3]. Conditions and Expiration - The tender offer will expire at 5:00 p.m. New York City time on February 20, 2025, unless extended [4]. - Holders must validly tender their notes by the expiration time to receive the cash consideration and accrued interest [4]. Withdrawal Rights - Holders can withdraw their tendered notes at any time before the expiration time or within 10 business days if the offer is extended [5]. Financing Conditions - The tender offer is contingent upon Leidos successfully completing an offering of new senior notes to generate sufficient net proceeds for the repurchase of the 2025 Notes [6]. Management and Contacts - Citigroup, J.P. Morgan, and U.S. Bancorp are acting as Dealer Managers for the tender offer, with Global Bondholder Services Corporation serving as the depositary agent [7].