L-3 Announces Pricing of Senior Note Offering

NEW YORK--()--L-3 Communications Holdings, Inc. (NYSE:LLL) announced today that L-3 Communications Corporation, its wholly owned subsidiary, has priced an offering of $550 million in aggregate principal amount of 10-year senior notes bearing interest at a fixed rate of 3.85% per year and maturing on December 15, 2026. The senior notes are expected to settle on December 5, 2016, subject to customary closing conditions. The senior notes are being offered in a registered offering pursuant to Rule 415 under the Securities Act of 1933, as amended (the “Securities Act”).

L-3 Communications intends to use the net proceeds from the offering plus cash on hand to: (i) replenish the amount of cash used, and the amount of revolving credit borrowings drawn, to repay $200 million aggregate principal amount of 3.95% senior notes due 2016 that matured on November 15, 2016, and (ii) redeem all of its outstanding 1.50% senior notes due 2017, which have an aggregate principal amount of $350 million.

Merrill Lynch, Pierce, Fenner & Smith Incorporated; Barclays Capital Inc.; Deutsche Bank Securities Inc.; MUFG Securities Americas Inc.; Scotia Capital (USA) Inc.; SMBC Nikko Securities America, Inc.; SunTrust Robinson Humphrey, Inc.; U.S. Bancorp Investments, Inc.; and Wells Fargo Securities, LLC are acting as joint book-running managers for this offering.

The senior notes will be unsecured senior obligations of L-3 Communications and will rank equally with all of its other unsecured senior indebtedness. The senior notes are being offered pursuant to L-3 Communications’ existing shelf registration statement, which became automatically effective upon filing with the Securities and Exchange Commission. A preliminary prospectus supplement and accompanying prospectus describing the terms of the offering have been filed with the Securities and Exchange Commission. Copies of the preliminary prospectus supplement and accompanying prospectus for the offering may be obtained from: (i) Merrill Lynch, Pierce, Fenner & Smith Incorporated at 1-800-294-1322 or dg.prospectus_requests@baml.com, (ii) Barclays Capital Inc. at 1-888-603-5847 or barclaysprospectus@broadridge.com, or (iii) Deutsche Bank Securities Inc. at 1-800-503-4611 or prospectus.CPDG@db.com.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Headquartered in New York City, L-3 employs approximately 38,000 people worldwide and is a leading provider of a broad range of communication and electronic systems and products used on military and commercial platforms. L-3 is also a prime contractor in aerospace systems. The company reported 2015 sales of $10.5 billion.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
Except for historical information contained herein, the matters set forth in this news release are forward-looking statements. Statements that are predictive in nature, that depend upon or refer to events or conditions or that include words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” “will,” “could” and similar expressions are forward-looking statements. The forward-looking statements set forth above involve a number of risks and uncertainties that could cause actual results to differ materially from any such statement, including the risks and uncertainties discussed in the company’s Safe Harbor Compliance Statement for Forward-Looking Statements included in the company’s recent filings, including Forms 10-K and 10-Q, with the Securities and Exchange Commission. The forward-looking statements speak only as of the date made, and the company undertakes no obligation to update these forward-looking statements.

Contacts

L-3
Corporate Communications
212-697-1111

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