(MarketWatch) – Booz Allen Hamilton Holding Corp. BAH, +1.63% said Wednesday it is planning to offer $500 million of senior notes in a private offering. The IT consulting firm did not say when the notes will mature.
Proceeds of the deal will b e used to redeem all of the 5.125% senior notes that mature in 2025. Companies have been issuing record levels of debt during the coronavirus pandemic.
Shares were not active premarket, but have gained 21% in the year to date, while the S&P 500 SPX, -0.79% has gained 3%.