Booz Allen prices $1.2B notes to fund Ultra Mission Solutions buy
What's the deal? Booz Allen HamiltonDealroom has a profile for this one. Try Dealroom → has priced $1.2 billion in senior notes to help fund its acquisition of Ultra Electronics Advanced Tactical SystemsDealroom has a profile for this one. Try Dealroom →, known as Ultra Mission Solutions. The offering, issued through subsidiary Booz Allen Hamilton Inc., splits into $700 million of 5.375% notes due 2030 and $500 million of 5.900% notes due 2034.
Where's the money going? Proceeds will finance part of the Ultra Mission Solutions purchase, repay about $714 million of borrowings under an existing senior unsecured term loan facility, and cover general corporate purposes. Booz Allen will guarantee the notes on a senior unsecured basis.
Why now? Booz Allen agreed to buy Ultra Mission Solutions under a stock purchase agreement dated June 19, 2026. The deal is expected to close in the second quarter of Booz Allen's fiscal 2027, subject to customary conditions. The notes offering is set to close on August 4, 2026.
What could go wrong? If the acquisition is not completed by December 19, 2026 — or a later agreed date — Booz Allen must redeem the 5.900% notes due 2034 through a special mandatory redemption.
Who's involved? BofA Securities, J.P. Morgan Securities, PNC Capital Markets, and Truist Securities are acting as representatives of the underwriters and joint bookrunners, alongside Goldman Sachs, SMBC Nikko, US Bancorp, and Wells Fargo SecuritiesDealroom has a profile for this one. Try Dealroom →. Capital One Securities and TD SecuritiesDealroom has a profile for this one. Try Dealroom → served as co-managers.
The signal: The financing shows Booz Allen leaning on debt markets to expand its defence and tactical systems capabilities, betting that the Ultra Mission Solutions acquisition strengthens its position with government and military customers.
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