Notable News Spotlight: Spirit AeroSystems Holdings [NYSE:SPR]

Spirit AeroSystems Holdings [NYSE:SPR] changed 18.60% to recent value of $22.64. The stock transacted 6632444 shares during most recent day however it has an average volume of 2.62M shares. It spotted trading -75.61% off 52-week high price. On the other end, the stock has been noted 65.38% away from the low price over the last 52-weeks.

On April 17, 2020, Spirit AeroSystems Holdings [NYSE:SPR] revealed the closing of the private offering of $1.2 billion aggregate principal amount of 7.500% Senior Secured Second Lien Notes due 2025 (the Notes) issued by Spirit AeroSystems (Spirit), a wholly owned subsidiary of the Company. Spirit plans to use the net proceeds from the offering for general corporate purposes, including to repay all or a portion of its revolver.

The Notes are guaranteed by the Company and Spirit AeroSystems North Carolina, a wholly owned subsidiary of Spirit (collectively, the Guarantors), and secured by certain real property and personal property, including certain equity interests, owned by Spirit, as issuer, and the Guarantors. The Notes and guarantees are Spirit’s senior secured obligations and will rank equally in right of payment with all of its existing and future senior indebtedness, effectively junior to all of its existing and future first-priority lien indebtedness to the extent of the value of the collateral securing such indebtedness (including Spirit’s senior secured credit facility and its Senior Notes due 2026), effectively junior to any of its other existing and future indebtedness that is secured by assets that do not constitute collateral for the notes to the extent of the value of such assets, and senior in right of payment to any of its existing and future subordinated indebtedness.

Concurrent with the closing of the offering, the previously announced amendment to Spirit’s senior secured credit facility, dated as of April 13, 2020, became effective, permitting Spirit to complete the offering and providing covenant flexibility for future capital raises and market conditions. Additionally, as a result of the closing of the offering, the commitments under Spirit’s senior unsecured $375 million short term delayed draw term loan facility have been canceled in full and the facility has been terminated.

SPR has a gross margin of 13.70% and an operating margin of 9.80% while its profit margin remained 6.70% for the last 12 months. Its earnings per share (EPS) expected to touch remained -9.80% for this year while earning per share for the next 5-years is expected to reach at 0.40%.

The company has 103.60M of outstanding shares and 102.48M shares were floated in the market. According to the most recent quarter its current ratio was 2.6 that represents company’s ability to meet its current financial obligations. The price moved ahead of 0.49% from the mean of 20 days, -45.17% from mean of 50 days SMA and performed -67.33% from mean of 200 days price. Company’s performance for the week was 0.27%, 20.17% for month and YTD performance remained -68.94%.

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