FALLS CHURCH, Va., May 28, 2013 /PRNewswire-FirstCall/
-- Northrop Grumman Corporation (NYSE: NOC) announced today
that it has priced a $2.85 billion
underwritten public offering of senior unsecured notes. The notes
include:
$850 million of 1.75% senior notes
due June 1, 2018
$1,050 million of 3.25% senior
notes due August 1, 2023
$950 million of 4.75% senior notes
due June 1, 2043
Northrop Grumman expects to use the net proceeds from the
offering to fund the redemption of its then outstanding 3.70%
senior notes due 2014 (the "2014 Notes") and its then outstanding
1.850% senior notes due 2015 (the "2015 Notes") and for general
corporate purposes, including debt repayment, share repurchases,
pension plan funding, acquisitions and working capital. As of the
date of this press release, $350
million aggregate principal amount of the 2014 Notes and
$500 million aggregate principal
amount of the 2015 Notes were outstanding.
The offering is expected to close on May
31, 2013, subject to customary closing conditions. When
available, copies of the prospectus supplement and the accompanying
base prospectus related to the offering may be obtained by calling
Citigroup Global Markets Inc. toll free at (800) 831-9146, J.P.
Morgan Securities LLC collect at (212) 834-4533, RBS Securities
Inc. toll free at (866) 884-2071 and Wells Fargo Securities, LLC
toll free at (800) 326-5897. A copy of these documents may also be
obtained by visiting EDGAR on the SEC website at www.sec.gov.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy the securities described herein,
nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to the registration or qualification under the
securities laws of any such jurisdiction.
The securities are being offered pursuant to an effective shelf
registration statement previously filed with the Securities and
Exchange Commission, and a prospectus supplement and accompanying
prospectus filed with the Securities and Exchange Commission as
part of the shelf registration statement.
Northrop Grumman is a leading global security company providing
innovative systems, products and solutions in unmanned systems,
cyber, C4ISR, and logistics and modernization to government and
commercial customers worldwide. Please visit
www.northropgrumman.com for more information.
Note: Statements in this press release, other than statements of
historical fact, constitute "forward-looking" information within
the meaning of the Private Securities Litigation Reform Act of
1995. Words such as "anticipate," "expect," "intend,"
"plan," "believe," "estimate," "guidance," "goal" and similar
expressions generally identify these forward-looking statements.
These forward-looking statements speak only as of the date when
made, and the Company undertakes no obligation to update or revise
any forward-looking statements after the date of this press
release. Forward-looking statements are not guarantees of future
performance and inherently involve a wide range of risks and
uncertainties that are difficult to predict. Actual results may
differ materially from those described or implied in these
statements based on a number of factors, including global economic
conditions, economic conditions in our industry, government fiscal
and budget policies, changes in interest rates and other market
conditions. A discussion of these risks and uncertainties is
contained in the Company's 2012 Annual Report on Form 10-K and the
company's other filings with the Securities and Exchange
Commission.
SOURCE Northrop Grumman Corporation