Kratos Completes Sale Of Its EPD Operations In U.S. & U.K. - Quick Facts

(RTTNews) - Kratos Defense & Security Solutions, Inc. (KTOS) announced it has completed the sale of the U.S. and U.K. operations of its Electronic Products Division to Ultra Electronics Holdings plc. The company said the deal will result in net cash proceeds to Kratos of approximately $232.4 million.

Kratos currently intends to use proceeds from the transaction to initiate a repurchase process for up to $175 million of its 7 Percent Senior Secured Notes at par. Kratos has paid down all outstanding amounts on its $110 million bank credit facility, which totaled approximately $41 million.