SAIC announces proposed offering of $500M in senior notes

Science Applications International intends to commence an offering of $500M aggregate principal amount of senior notes due 2033, subject to market and certain other conditions. SAIC (SAIC) intends to use the net proceeds from the offering of the Notes to repay all indebtedness outstanding under its revolving credit facility and to pay estimated fees and expenses of the offering of the Notes, with any remaining net proceeds being used for general corporate purposes, including working capital to fund growth and potential strategic projects and transactions.