Lexington, Mass.-based Raytheon Co., the defense
contractor that makes the Stinger and Tomahawk missiles, plans to
sell $425 million of 10-year notes as soon as today, said people
familiar with the sale.
Raytheon, which has facilities in Portsmouth, R.I., will use the funds to pay debt, the people familiar
said. Bank of America Corp., Credit Suisse First Boston and Morgan
Stanley are managing the sale, the people familiar said.
The company has credit ratings of Baa3 at Moody’s Investors Service and BBB- at Standard & Poor’s.
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