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Textron announces cash tender offer of up to $650 million of debt

Cessna Aircraft’s parent company, Textron, announced Monday cash tender offers for up to $650 million of outstanding debt by Textron and its subsidiary Textron Financial Corp.

The offering is through five separate series of outstanding debt securities, two by Textron and three by Textron Financial Corp. Textron Financial finances items such as aircraft and golf equipment.

The purpose  of the offering is to lengthen the maturity profile of Textron’s indebtedness, Textron said in its announcement today.