Consulting Business: FTI Prices Upsized Notes Offering
September 20, 2010 (FinancialWire) — FTI Consulting, Inc. (NYSE: FCN) said that it has priced a private offering of $400 million of 6 3/4% senior notes due 2020.
The company increased the size of the offering from a previously announced $350 million to $400 million.
The notes will be issued at a price of 100% of their principal amount, and will be guaranteed by certain of the company's existing and future domestic restricted subsidiaries.
According to FTI, the offering is expected to close on September 27.
FTI plans to use the net proceeds from the offering of the notes to finance a cash tender offer to repurchase any and all of its outstanding 7 5/8% senior notes due 2013, to redeem any and all of the 2013 notes that remain outstanding following the consummation of the tender offer and for general corporate purposes, which could include working capital, share repurchases, capital expenditures, acquisitions, refinancing of other debt or other capital transactions.
Florida-based FTI Consulting is a global business advisory firm with around 3,500 employees located in major business centers. The firm advises in areas such as investigations, litigation, mergers and acquisitions, regulatory issues, reputation management and restructuring.
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