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L-3 Takes on Debt to Fund Titan Buy

New York-based L-3 Communications Holdings Inc. started off the week announcing private placements amounting to $1.5 billion to help fund its acquisition of Titan Corp.

L-3 on July 25 announced plans to raise $1 billion in senior subordinated notes and $500 million in convertible contingent debt securities.

Titan shareholders vote on L-3’s acquisition plan July 28.

Brad Graves

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