L3Harris offers $1B in notes due in 2029 and 2032
The notes will not be exchange-listed, and holders may find resale difficult if a trading market does not develop.
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L3Harris Technologies, Inc. (LHX) is offering $1,000,000,000 aggregate principal amount: $500,000,000 of 5.200% notes due November 5, 2029, and $500,000,000 of 5.400% notes due April 15, 2032. Interest is payable semi-annually, beginning May 5, 2027 for the 2029 notes and April 15, 2027 for the 2032 notes.
L3Harris estimates net proceeds of $990.6 million and intends to use them for general corporate purposes, including funding redemption or repayment at maturity of all $550 million aggregate principal amount of its 3.85% Senior Notes due December 15, 2026, and, together with cash on hand, a portion of its $1,250 million 5.40% Notes due January 15, 2027. The new notes are unsecured and unsubordinated, rank equally with other unsecured and unsubordinated L3Harris debt, and are effectively subordinated to subsidiary liabilities and secured creditors’ claims. After a Change of Control Repurchase Event, unless previously redeemed, L3Harris must offer to repurchase the notes at 101% of principal plus accrued and unpaid interest. The notes will not be exchange-listed and currently have no public market.
Filing Explained
The capitalization table is a pro forma model, not a report of completed repayments: after the offering and intended use of proceeds, it shows total debt at
Key Figures
Key Terms
structurally subordinated financial
make-whole redemption price financial
Applicable Par Call Date financial
original issue discount financial
Offering Details
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How much debt is LHX issuing, and what are the coupon rates?
What will LHX use the bond proceeds for?
When can LHX redeem the notes, and at what price?
What protection do LHX noteholders have after a change of control?
AI-generated analysis. How Rhea-AI works. Not financial advice.
(To Prospectus dated February 12, 2026)
| | | |
Per
2029 Note |
| |
Total for
2029 Notes |
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Per
2032 Note |
| |
Total for
2032 Notes |
| |
Total
|
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|
Public Offering Price(1)
|
| | | | 99.951% | | | | | $ | 499,755,000 | | | | | | 99.813% | | | | | $ | 499,065,000 | | | | | $ | 998,820,000 | | |
|
Underwriting Discount
|
| | | | 0.450% | | | | | $ | 2,250,000 | | | | | | 0.600% | | | | | $ | 3,000,000 | | | | | $ | 5,250,000 | | |
|
Proceeds, before expenses, to L3Harris Technologies, Inc.(1)
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| | | | 99.501% | | | | | $ | 497,505,000 | | | | | | 99.213% | | | | | $ | 496,065,000 | | | | | $ | 993,570,000 | | |
| | Citigroup | | | Scotiabank | | |
US Bancorp
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Wells Fargo Securities
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Page
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ABOUT THIS PROSPECTUS SUPPLEMENT
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| | | | S-ii | | |
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WHERE YOU CAN FIND MORE INFORMATION
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| | | | S-iii | | |
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INCORPORATION BY REFERENCE OF CERTAIN DOCUMENTS
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| | | | S-iv | | |
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CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
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| | | | S-v | | |
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SUMMARY
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| | | | S-1 | | |
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RISK FACTORS
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| | | | S-5 | | |
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CAPITALIZATION
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| | | | S-8 | | |
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USE OF PROCEEDS
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| | | | S-10 | | |
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DESCRIPTION OF NOTES
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| | | | S-11 | | |
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CERTAIN UNITED STATES FEDERAL INCOME TAX CONSEQUENCES
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| | | | S-20 | | |
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CERTAIN ERISA CONSIDERATIONS
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| | | | S-25 | | |
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UNDERWRITING (CONFLICTS OF INTEREST)
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| | | | S-27 | | |
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NOTICE TO INVESTORS
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| | | | S-29 | | |
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LEGAL MATTERS
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| | | | S-32 | | |
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EXPERTS
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| | | | S-32 | | |
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Page
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ABOUT THIS PROSPECTUS
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| | | | 1 | | |
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WHERE YOU CAN FIND MORE INFORMATION
|
| | | | 2 | | |
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CAUTIONARY STATEMENT ABOUT FORWARD-LOOKING STATEMENTS
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| | | | 3 | | |
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ABOUT L3HARRIS
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| | | | 3 | | |
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RISK FACTORS
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| | | | 4 | | |
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USE OF PROCEEDS
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| | | | 4 | | |
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DESCRIPTION OF DEBT SECURITIES
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| | | | 4 | | |
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DESCRIPTION OF CAPITAL STOCK
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| | | | 18 | | |
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DESCRIPTION OF DEPOSITARY SHARES
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| | | | 25 | | |
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DESCRIPTION OF WARRANTS
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| | | | 27 | | |
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SELLING SECURITYHOLDERS
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| | | | 28 | | |
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PLAN OF DISTRIBUTION
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| | | | 28 | | |
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VALIDITY OF THE SECURITIES
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| | | | 30 | | |
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EXPERTS
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| | | | 31 | | |
1025 West NASA Boulevard
Melbourne, Florida 32919
Attention: Secretary
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At October 2, 2026
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| | | |
Actual
|
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As Adjusted(1)
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(in millions)
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Cash and cash equivalents(2)
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| | | $ | 2,471 | | | | | $ | 1,662 | | |
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Short-term investments(3)
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| | | | 550 | | | | | | 550 | | |
| Short-term debt (including current portion of long-term debt): | | | | | | | | | | | | | |
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Current portion of long-term debt, net(4)
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| | | | 1,815 | | | | | | 15 | | |
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Commercial paper program(5)
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| | | | — | | | | | | — | | |
| Long-term debt: | | | | | | | | | | | | | |
| Variable-rate debt: | | | | | | | | | | | | | |
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Senior unsecured revolving credit facility(6)
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| | | | — | | | | | | — | | |
| Fixed-rate debt: | | | | | | | | | | | | | |
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3.85% notes, due December 2026
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| | | | 550 | | | | | | — | | |
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5.40% notes, due January 2027
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| | | | 1,250 | | | | | | — | | |
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6.35% debentures, due February 2028
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| | | | 26 | | | | | | 26 | | |
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4.40% notes, due June 2028
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| | | | 1,850 | | | | | | 1,850 | | |
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5.05% notes, due June 2029
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| | | | 750 | | | | | | 750 | | |
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2.90% notes, due December 2029
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| | | | 400 | | | | | | 400 | | |
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1.80% notes, due January 2031
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| | | | 650 | | | | | | 650 | | |
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5.25% notes, due June 2031
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| | | | 750 | | | | | | 750 | | |
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5.40% notes, due July 2033
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| | | | 1,500 | | | | | | 1,500 | | |
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5.35% notes, due June 2034
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| | | | 750 | | | | | | 750 | | |
|
4.854% notes, due April 2035
|
| | | | 400 | | | | | | 400 | | |
|
6.15% notes, due December 2040
|
| | | | 300 | | | | | | 300 | | |
|
5.054% notes, due April 2045
|
| | | | 500 | | | | | | 500 | | |
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5.60% notes, due July 2053
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| | | | 500 | | | | | | 500 | | |
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5.50% notes, due August 2054
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| | | | 600 | | | | | | 600 | | |
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5.200% notes, due November 2029, offered hereby
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| | | | — | | | | | | 500 | | |
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5.400% notes, due April 2032, offered hereby
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| | | | — | | | | | | 500 | | |
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Financing lease obligations and other debt
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| | | | 265 | | | | | | 265 | | |
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Less: current portion of long-term debt, net
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| | | | (1,815) | | | | | | (15) | | |
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Total long-term debt, less current portion
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| | | | 9,226 | | | | | | 10,226 | | |
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Plus: unamortized bond premium, unamortized discounts and debt issuance costs,
net |
| | | | (45) | | | | | | (54) | | |
| | | |
At October 2, 2026
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| | | |
Actual
|
| |
As Adjusted(1)
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(in millions)
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Total long-term debt, net(4)
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| | | | 9,181 | | | | | | 10,172 | | |
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Total debt(4)
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| | | | 10,996 | | | | | | 10,187 | | |
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Total equity
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| | | | 20,240 | | | | | | 20,240 | | |
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Total capitalization(7)
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| | | $ | 31,236 | | | | | $ | 30,427 | | |
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Underwriters
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Aggregate
Principal Amount of 2029 Notes |
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Aggregate
Principal Amount of 2032 Notes |
| ||||||
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Citigroup Global Markets Inc.
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| | | $ | 100,000,000 | | | | | $ | 100,000,000 | | |
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Scotia Capital (USA) Inc.
|
| | | | 100,000,000 | | | | | | 100,000,000 | | |
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U.S. Bancorp Investments, Inc.
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| | | | 100,000,000 | | | | | | 100,000,000 | | |
|
Wells Fargo Securities, LLC
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| | | | 100,000,000 | | | | | | 100,000,000 | | |
|
BofA Securities, Inc.
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| | | | 20,000,000 | | | | | | 20,000,000 | | |
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J.P. Morgan Securities LLC
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| | | | 20,000,000 | | | | | | 20,000,000 | | |
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Morgan Stanley & Co. LLC
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| | | | 20,000,000 | | | | | | 20,000,000 | | |
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Barclays Capital Inc.
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| | | | 10,000,000 | | | | | | 10,000,000 | | |
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Mizuho Securities USA LLC
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| | | | 10,000,000 | | | | | | 10,000,000 | | |
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SMBC Nikko Securities America, Inc.
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| | | | 10,000,000 | | | | | | 10,000,000 | | |
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TD Securities (USA) LLC
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| | | | 10,000,000 | | | | | | 10,000,000 | | |
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Total
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| | | $ | 500,000,000 | | | | | $ | 500,000,000 | | |
Depositary Shares and Warrants
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Page
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ABOUT THIS PROSPECTUS
|
| | | | 1 | | |
|
WHERE YOU CAN FIND MORE INFORMATION
|
| | | | 2 | | |
|
CAUTIONARY STATEMENT ABOUT FORWARD-LOOKING STATEMENTS
|
| | | | 3 | | |
|
ABOUT L3HARRIS
|
| | | | 3 | | |
|
RISK FACTORS
|
| | | | 4 | | |
|
USE OF PROCEEDS
|
| | | | 4 | | |
|
DESCRIPTION OF DEBT SECURITIES
|
| | | | 4 | | |
|
DESCRIPTION OF CAPITAL STOCK
|
| | | | 18 | | |
|
DESCRIPTION OF DEPOSITARY SHARES
|
| | | | 25 | | |
|
DESCRIPTION OF WARRANTS
|
| | | | 27 | | |
|
SELLING SECURITYHOLDERS
|
| | | | 28 | | |
|
PLAN OF DISTRIBUTION
|
| | | | 28 | | |
|
VALIDITY OF THE SECURITIES
|
| | | | 30 | | |
|
EXPERTS
|
| | | | 31 | | |
1025 West NASA Boulevard
Melbourne, Florida 32919
Attention: Secretary
| | Citigroup | | | Scotiabank | | |
US Bancorp
|
| |
Wells Fargo Securities
|
|
| |
BofA Securities
|
| |
J.P. Morgan
|
| |
Morgan Stanley
|
|
| | Barclays | | | Mizuho | | |
SMBC Nikko
|
| |
TD Securities
|
|