Leidos’ $2.68 Billion Credit Facility

Cravath represented Citibank, N.A., as administrative agent, joint lead arranger and joint bookrunner in the deal.

Leidos Holdings, Inc., Leidos, Inc., a Delaware corporation and a wholly-owned subsidiary of Leidos, as borrower, and certain other wholly-owned domestic subsidiaries of Leidos, as guarantors, entered into a Credit Agreement with the lenders party and Citibank, N.A., as administrative agent.

The Credit Agreement provides for a senior unsecured term loan A facility in an aggregate principal amount of $1,925,139,000 and a $750,000,000 senior unsecured revolving facility.

Leidos Inc. is a leading provider of services and solutions in the defense, intelligence, civil and health markets in the United States and internationally.

The Cravath team included partners Stephen M. Kessing (Picture) and Joseph D. Zavaglia, associates Adam G. DiSimine and Douglas C. Dolan and foreign associate attorney Vanessa Isler on banking matters, associates Rebecca L. Fine and Kyle R. Jorstad on tax matters, associate Anna Mikaelyan on executive compensation and benefits matters and practice area attorney Brian O. Larkin on real estate matters.

Involved fees earner: Adam DiSimine – Cravath Swaine & Moore; Douglas Dolan – Cravath Swaine & Moore; Rebecca Fine – Cravath Swaine & Moore; Vanessa Isler – Cravath Swaine & Moore; Kyle Jorstad – Cravath Swaine & Moore; Stephen Kessing – Cravath Swaine & Moore; Brian Larkin – Cravath Swaine & Moore; Anna Mikaelyan – Cravath Swaine & Moore; Joseph Zavaglia – Cravath Swaine & Moore;

Law Firms: Cravath Swaine & Moore;

Clients: Citibank;