Northrop Grumman Announces $1.5 Billion Debt Redemption
01 Février 2021 - 10:05PM
Northrop Grumman Corporation (NYSE: NOC) today announced that it
will redeem for cash all of its outstanding 2.55% Senior Notes due
October 2022 (“Notes”) on March 24, 2021. The Notes will be
redeemed at a “make-whole” premium price, calculated in accordance
with the Notes and the indenture and supplemental indenture
governing the Notes (the “Make-Whole Redemption”). Northrop Grumman
currently expects the Make-Whole Redemption to result in a pre-tax
charge of approximately $55 million in the first quarter of 2021,
which is not contemplated in its 2021 financial guidance of January
28, 2021. As of the date of this press release, $1.5 billion
aggregate principal amount of the Notes were outstanding.
Northrop Grumman solves the toughest problems in space,
aeronautics, defense and cyberspace to meet the ever evolving needs
of our customers worldwide. Our 97,000 employees define possible
every day using science, technology and engineering to create and
deliver advanced systems, products and services.
Cautionary Statement Regarding Forward-Looking
Statements
Statements in this press release contain or may contain
statements that constitute “forward-looking statements” within the
meaning of the Private Securities Litigation Reform Act of 1995.
Words such as “will,” “expect,” “anticipate,” “intend,” “may,”
“could,” “should,” “plan,” “project,” “forecast,” “believe,”
“estimate,” “guidance,” “outlook,” “trends,” “goals” and similar
expressions generally identify these forward-looking statements.
Forward-looking statements are based upon assumptions,
expectations, plans and projections that we believe to be
reasonable when made, but which may change over time. These
statements are not guarantees of future performance and inherently
involve a wide range of risks and uncertainties that are difficult
to predict. Specific risks that could cause actual results to
differ materially from those expressed or implied in these
forward-looking statements include, but are not limited to those
identified and discussed more fully in the section entitled “Risk
Factors” in the Form 10-K for the year ended December 31, 2020 and
from time to time in our other filings with the Securities and
Exchange Commission. You are urged to consider the limitations on,
and risks associated with, forward-looking statements and not
unduly rely on the accuracy of forward-looking statements. These
forward-looking statements speak only as of the date when made, and
the Company undertakes no obligation to publicly update or revise
any forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by
applicable law.
Contact: |
Tim Paynter (Media) |
|
703-280-2720 (office) |
|
timothy.paynter@ngc.com |
|
|
|
Todd Ernst (Investors) |
|
703-280-4535 (office) |
|
todd.ernst@ngc.com |
Northrop Grumman (NYSE:NOC)
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