DynCorp extends deadline for offers to buy back $376.2 million in debt

DynCorp extends deadline on $376M debt buyback

FALLS CHURCH, Va. — DynCorp International Inc. said Wednesday a subsidiary is extending the deadline for a tender offer to buy back the $376.2 million debt outstanding under senior notes due in 2013.

The offer for the notes, which have a 9.5 percent interest rate, was originally set to expire at midnight on July 2.

Now that deadline has been extended to 8 a.m. EDT on July 7.

The company said that about 99.5 percent of the notes had been tendered as of Monday.

Also Wednesday, DynCorp said that shareholders approved the company’s acquisition by private equity firm Cerberus Capital Management LP. The company announced the $1 billion deal in April.

DynCorp shares added 5 cents to $17.51 in afternoon trading.