Textron Offers To Buy Back Up To $650M Of Notes

Law360, New York (September 14, 2009, 7:31 PM EDT) -- Aircraft maker and defense contractor Textron Inc. and its finance subsidiary are offering to buy in cash up to $650 million of the debt they have issued, Textron said Monday.

Rhode Island-based Textron, which makes Cessna planes, E-Z-GO engines and Bell helicopters, said that it was making the offer to lengthen the maturity profile of it and Textron Financial Corp.'s indebtedness.

Both Textron and its wholly owned subsidiary plan to use cash on hand to buy the securities, make any applicable early tender payments and pay...
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