FALLS CHURCH, Va. (July 14, 2008)– DynCorp International LLC and its wholly-owned subsidiaryDIV Capital Corporation announced today the pricing of $125 millionin aggregate principal amount of additional 9 1/2% seniorsubordinated notes due 2013. The senior subordinated notesare to be issued under the issuers’ existing senior subordinatednotes indenture.
DynCorp International LLC intends to use the net proceeds from theprivate placement to repay in part borrowings under its existingsenior secured credit facility. Concurrently with the closingof the offering, DynCorp International LLC intends to enter into anew senior secured credit facility under which it intends torefinance the remainder of the balance under its existing seniorsecured credit facility.
The securities offered have not been registered under theSecurities Act of 1933, as amended, (the “Securities Act”) or anystate securities laws; and unless so registered, the securities maynot be offered or sold in the United States except pursuant to anexemption from, or in a transaction not subject to, theregistration requirements of the Securities Act and applicablestate securities laws. The senior unsecured notes are expected tobe eligible for trading by qualified institutional buyers underRule 144A and non-US persons under Regulation S. This announcementshall not constitute an offer to sell or a solicitation of an offerto buy any of these securities.
About DynCorp International
DynCorp International (NYSE:DCP) is a provider of specializedmission-critical services to civilian and military governmentagencies worldwide, and operates major programs in law enforcementtraining and support, security services, base operations, aviationservices, contingency operations, and logistics support. DynCorpInternational is headquartered in Falls Church, Va. For moreinformation, visit www.dyn-intl.com.
This press release contains various forward lookingstatements. All statements other than statements ofhistorical fact are forward looking statements. Withoutlimiting the foregoing, the words “believes,” “thinks,””anticipates,” “plans,” “expects” and similar expressions areintended to identify forward looking statements. Forwardlooking statements involve risks and uncertainties. TheCompany cautions that these statements are further qualified byimportant economic, competitive, governmental and technologicalfactors that could cause the Company’s business, strategy or actualresults or events to differ materially, or otherwise, from those inthe forward looking statements. These factors, risks anduncertainties include, among others, the following, the Company’ssubstantial level of indebtedness; government policies and theoutcome of political elections; termination of key U.S. governmentcontracts; changes in the demand for services that the Companyprovides; pursuit of new commercial business and foreign governmentopportunities; activities of competitors; bid protests; changes insignificant operating expenses; changes in availability of capital;general political, economic and business conditions in the U.S.;acts of war or terrorist activities; variations in performance offinancial markets; estimates of future contract values, as reportedin our backlog ; anticipated revenue from indefinite delivery,indefinite quantity, or IDIQ, contracts; expected percentages offuture revenue represented by fixed-price and time-and-materialscontracts; and other risks detailed from time to time in theCompany’s reports filed with the Securities and ExchangeCommission. Accordingly, such forward looking statements donot purport to be predictions of future events or circumstances;therefore, there can be no assurance that any forward lookingstatement contained herein will prove to be accurate. Weassume no obligation to update the forward looking statements.