CACI International Inc. Announces \$500 Million Add-On to 6.375% Senior Notes Due 2033

Key Highlights for Investors

• Material Definitive Agreement: CACI International Inc. entered into a Second Supplemental Indenture to issue an additional \$500 million in 6.375% Senior Notes due 2033, adding to the \$1 billion previously issued. This brings the total outstanding under this series to \$1.5 billion.
• Financial Obligation: The added notes represent a new direct financial obligation for CACI, which may affect leverage, liquidity, and financial ratios.
• Terms of the Notes: The new notes are issued under the same terms as the initial 2033 Notes except for issue date and price. They are consolidated with, and form a single class with, the existing notes. Holders will have equal status and rights.
• Guarantor Subsidiaries: The notes are guaranteed by numerous subsidiaries, including Attila Security, CACI Azure Summit Technology, Quadrint, Applied Insight, Bridges Consulting, Digital Age Experts, Zavda Technologies, and others. This supports the credit profile of the notes.
• Trustee: U.S. Bank Trust Company, National Association, serves as trustee, offering further investor security.
• Material Exhibits: Full legal documents, including the indenture and note forms, are filed as exhibits and incorporated into the current report.

Details and Shareholder Implications

On March 12, 2026, CACI International Inc. (NYSE: CACI) filed a Form 8-K current report to announce that it has executed a Second Supplemental Indenture relating to its 6.375% Senior Notes due 2033. The company is issuing an additional \$500 million aggregate principal amount of these notes, on top of the \$1 billion previously issued in June 2025. This new tranche is being offered under the same terms and will be consolidated to form a single class with the outstanding notes.

Why is this important for shareholders?

• Balance Sheet Impact: The issuance increases CACI’s long-term debt, which may affect leverage ratios, interest coverage, and overall risk profile. Investors should consider the company’s ability to service this higher debt load, especially in changing interest rate environments.
• Interest Expense: The 6.375% coupon is relatively high compared to historical market rates, which will increase annual interest payments by approximately \$31.875 million (on the new \$500 million tranche alone).
• Use of Proceeds: While the filing does not specify the use of proceeds, such capital raises are typically used for refinancing, acquisitions, or general corporate purposes. Investors should monitor future disclosures for specifics, as the use of debt could impact growth, M&A activity, or shareholder returns.
• No Change to Voting or Control: The notes are unsecured obligations and do not entail equity dilution or changes in voting rights.
• Potential Price Sensitivity: The addition of \$500 million in long-term debt could be viewed positively if used for investment or value-accretive acquisitions but may be negative if it materially increases leverage without a clear growth plan. Credit rating agency reactions should be monitored.

Other Noteworthy Details

• Legal Structure: The notes are governed by a base indenture dated June 2, 2025, and two subsequent supplemental indentures. The full text is available in the SEC filing exhibits for investor review.
• Company Profile: CACI International Inc. is incorporated in Delaware, based in Reston, VA, and trades on the NYSE under the symbol “CACI.”
• No Indication of Emerging Growth Status: The company does not qualify as an “emerging growth company,” suggesting it is a well-established issuer.

Conclusion

The \$500 million increase in 6.375% Senior Notes due 2033 is a significant financial event for CACI International Inc., impacting its capital structure and potentially its stock price. Investors should evaluate the company’s strategy for deploying the proceeds and monitor any related announcements for further clarity on the use of funds, as well as any changes in credit ratings or analyst outlooks.

Disclaimer: The above summary is for informational purposes only and is not investment advice. Investors should review all official filings and consult with their financial advisors before making any investment decisions. The author assumes no liability for actions taken based on this information.

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