Leidos sells $1.4 billion in senior notes to fund Entrust acquisition
Leidos subsidiary Leidos, Inc. issued $600 million of 4.100% notes due 2029 and $800 million of 5.000% notes due 2036 on March 2, 2026. Estimated net proceeds of about $1,387 million will help fund the proposed purchase of ENTRUST, but the notes must be redeemed at 101% if that deal is not completed by the deadline.
Key points
- Total principal of $1.4 billion: $600 million of 2029 notes and $800 million of 2036 notes
- Estimated net proceeds of approximately $1,387 million, earmarked for part of the ENTRUST acquisition consideration
- Special mandatory redemption at 101% of principal if the ENTRUST deal is not completed by August 14, 2026, or is abandoned
- Notes are senior unsecured obligations guaranteed by Leidos Holdings, with first interest payments due September 15, 2026
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:11 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on March 02, 2026.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.