SAIC Plans $400 Million Senior Notes Offering

Science Applications International Corp. proposes a $400 million offering of senior notes due 2034 to refinance its 4.875% notes.

Updated on Nov. 2, 2026 in Corporate Finance

SAIC Plans $400 Million Senior Notes Offering

Science Applications International Corp. announced a proposed offering of $400 million in senior notes due 2034. SAIC intends to use the net proceeds, together with cash on hand, to redeem its 4.875% Senior Notes due 2028.

Why it matters

The offering would refinance debt carrying a 4.875% rate with new notes maturing in 2034, changing the company's debt maturity profile. The notes are subject to market and certain other conditions, so the offering may not proceed as proposed.

The offering carries a $400 million principal amount, with SAIC's existing 5.875% senior notes due 2033 and 4.875% notes due 2028 as reference debt. Pricing of the new notes and final terms were not disclosed in the source information.

The players

Science Applications International Corp. (SAIC)

SAIC is a technology and engineering services company headquartered in Reston, Virginia, with annual revenues of approximately $7.3 billion and about 23,000 employees.

The details

The notes will be guaranteed on a senior unsecured basis by SAIC's domestic subsidiaries that guarantee its credit agreement obligations. The notes are being offered to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S, and have not been registered under the Securities Act of 1933.

Nov. 2, 2026: SAIC announced the proposed $400 million senior notes offering.
2028: Maturity of the 4.875% Senior Notes to be redeemed.
2033: Maturity of SAIC's existing 5.875% Senior Notes.
2034: Maturity of the newly offered senior notes.

Corporate Finance Context

SAIC's use of Rule 144A and Regulation S channels places the offering within the private placement market for institutional corporate debt. Companies often use such routes to refinance higher-coupon notes ahead of maturity.

Holders of the 4.875% Senior Notes due 2028 would be repaid if the redemption proceeds through, shifting that capital. The offering is conditional on market conditions, so timing and final pricing remain uncertain for prospective investors.

The takeaway

Corporate debt refinancings like SAIC's show how issuers use new notes to manage maturities and interest costs. Investors should watch final pricing and the completion of the offering to judge its effect on the company's obligations.