The information in these press releases was accurate at the time of posting but may have been superseded by subsequent news releases.
FALLS CHURCH,
Va.-- July 14, 2008-- DynCorp International LLC and its wholly-owned
subsidiary DIV Capital Corporation announced today the pricing of $125
million in aggregate principal amount of additional 9 1/2% senior
subordinated notes due 2013. The senior subordinated notes are to be
issued under the issuers' existing senior subordinated notes
indenture.
DynCorp International LLC intends to use the net
proceeds from the private placement to repay in part borrowings under
its existing senior secured credit facility. Concurrently with the
closing of the offering, DynCorp International LLC intends to enter
into a new senior secured credit facility under which it intends to
refinance the remainder of the balance under its existing senior
secured credit facility.
The securities offered have not been
registered under the Securities Act of 1933, as amended, (the
"Securities Act") or any state securities laws; and unless so
registered, the securities may not be offered or sold in the United
States except pursuant to an exemption from, or in a transaction not
subject to, the registration requirements of the Securities Act and
applicable state securities laws. The senior unsecured notes are
expected to be eligible for trading by qualified institutional buyers
under Rule 144A and non-US persons under Regulation S. This
announcement shall not constitute an offer to sell or a solicitation of
an offer to buy any of these securities.
About DynCorp International
DynCorp
International (NYSE:DCP) is a provider of specialized mission-critical
services to civilian and military government agencies worldwide, and
operates major programs in law enforcement training and support,
security services, base operations, aviation services, contingency
operations, and logistics support. DynCorp International is
headquartered in Falls Church, Va. For more information, visit www.dyn-intl.com.
This
press release contains various forward looking statements. All
statements other than statements of historical fact are forward looking
statements. Without limiting the foregoing, the words "believes,"
"thinks," "anticipates," "plans," "expects" and similar expressions are
intended to identify forward looking statements. Forward looking
statements involve risks and uncertainties. The Company cautions that
these statements are further qualified by important economic,
competitive, governmental and technological factors that could cause
the Company's business, strategy or actual results or events to differ
materially, or otherwise, from those in the forward looking
statements. These factors, risks and uncertainties include, among
others, the following, the Company's substantial level of indebtedness;
government policies and the outcome of political elections; termination
of key U.S. government contracts; changes in the demand for services
that the Company provides; pursuit of new commercial business and
foreign government opportunities; activities of competitors; bid
protests; changes in significant 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 of financial markets; estimates of future contract
values, as reported in our backlog ; anticipated revenue from
indefinite delivery, indefinite quantity, or IDIQ, contracts; expected
percentages of future revenue represented by fixed-price and
time-and-materials contracts; and other risks detailed from time to
time in the Company's reports filed with the Securities and Exchange
Commission. Accordingly, such forward looking statements do not
purport to be predictions of future events or circumstances; therefore,
there can be no assurance that any forward looking statement contained
herein will prove to be accurate. We assume no obligation to update
the forward looking statements.
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