Northrop Grumman Prices $2.5 Billion Debt Offering
30 January 2024 - 10:24AM
Northrop Grumman Corporation (NYSE: NOC) (“Northrop Grumman”)
announced today that it has priced a $2.5 billion underwritten
public offering of senior unsecured notes. The notes include:
$500 million of 4.600% senior notes
due 2029
$850 million of 4.900% senior notes
due 2034
$1.15 billion of 5.200% senior notes
due 2054
Northrop Grumman expects to use the net proceeds from the
offering for general corporate purposes, which may include debt
repayment (including its 2.93% senior notes due 2025), share
repurchases and working capital. The offering is expected to close
on January 31, 2024, subject to the satisfaction of customary
closing conditions. When available, copies of the prospectus
supplement and the accompanying base prospectus related to the
offering may be obtained by calling J.P. Morgan Securities LLC
collect at 1-212-834-4533, Mizuho Securities USA LLC toll-free at
1-866-271-7403 and Wells Fargo Securities, LLC toll-free at
1-800-645-3751. A copy of these documents may also be obtained by
visiting EDGAR on the Securities and Exchange Commission 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.
About Northrop Grumman CorporationNorthrop
Grumman is a leading global aerospace and defense technology
company. Our pioneering solutions equip our customers with the
capabilities they need to connect and protect the world, and push
the boundaries of human exploration across the universe. Driven by
a shared purpose to solve our customers’ toughest problems, our
employees define possible every day.
Forward-Looking StatementsStatements 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 include, among other things, statements relating to the
timing or consummation of the debt offering. 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 under “Risk Factors” in
our Form 10-K for the year ended December 31, 2023, and from time
to time in our other filings with the Securities and Exchange
Commission. These risks and uncertainties are amplified by the
global macroeconomic, security and political environments,
including inflationary pressures, labor and supply chain
challenges, which have caused and will continue to cause
significant challenges, instability and uncertainty. 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 we undertake 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: |
Vic Beck (Media) |
|
703-280-4456 (office) |
|
vic.beck@ngc.com |
|
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|
Todd Ernst (Investors) |
|
703-280-4535 (office) |
|
todd.ernst@ngc.com |
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