BETHESDA, Md., Aug. 21, 2017 /PRNewswire/ -- Lockheed Martin
Corporation (NYSE: LMT) today announced early results of its offer
to exchange any and all of its outstanding debt securities listed
in the table below (the "old notes") for a new series of 4.09%
notes due 2052 (the "new notes") and an additional cash amount, if
applicable (the "exchange offer"). The approximate principal
amounts of each series of old notes that have been validly tendered
for exchange, as of 5:00 p.m.,
New York City time, on
August 18, 2017 (the "early
participation date"), based on information provided by the exchange
agent to Lockheed Martin, are presented in the table below. These
tendered old notes may not be withdrawn. The amount of outstanding
old notes validly tendered and not validly withdrawn as of the
early participation date, as reflected in the table below,
satisfied the minimum condition of the exchange offer. As of the
early participation date, the expected issue amount of the new
notes will be approximately $1.58
billion.
CUSIP
|
Series
|
Aggregate
Principal
Amount Outstanding
|
Approximate
Aggregate
Principal Amount
Tendered as of 08/18/17
|
539830AK5
|
8.50% Debentures due
12/01/2029
|
$194,701,000.00
|
$11,701,000.00
|
539830AD1
|
7.20% Debentures due
05/01/2036
|
$39,001,000.00
|
$7,000,000.00
|
539830AR0
|
6.15% Notes due
09/01/2036
|
$652,491,000.00
|
$98,628,000.00
|
539830AU3
|
5.50% Notes due
11/15/2039
|
$318,158,000.00
|
$121,792,000.00
|
539830AW9
|
5.72% Notes due
06/01/2040
|
$434,765,000.00
|
$83,867,000.00
|
539830AZ2
|
4.85% Notes due
09/15/2041
|
$600,000,000.00
|
$361,017,000.00
|
539830BL2
|
4.70% Notes due
05/15/2046
|
$2,000,000,000.00
|
$672,383,000.00
|
|
|
Total
|
$1,356,388,000.00
|
Tenders submitted in the exchange offer after the early
participation date of the exchange offer will be irrevocable except
in the limited circumstances required by law (as determined by
Lockheed Martin, subject to judgments by a court of law having
jurisdiction over such matters).
The exchange offer is only made, and copies of the offering
documents will only be made available, to holders of the old notes
who have certified to Lockheed Martin in an eligibility letter as
to certain matters, including (1) their status as "qualified
institutional buyers" as defined in Rule 144A under the Securities
Act of 1933, as amended (the "Securities Act"), or (2) outside
the United States, their status as
non-U.S. persons as defined in Regulation S under the Securities
Act. The exchange offer is scheduled to expire at 12:00 midnight,
New York City time, at the end of
the day on September 1, 2017, unless
extended.
The new notes have not been registered under the Securities Act
or any state securities laws. Therefore, the new notes may
not be offered or sold in the United
States or to any U.S. persons except pursuant to an
exemption from, or in a transaction not subject to, the
registration requirements of the Securities Act and any applicable
state securities laws.
This news release is not an offer to sell or a solicitation
of an offer to buy any security. The exchange offer is being
made solely by the offering memorandum and related letter of
transmittal and only to such persons and in such jurisdictions as
is permitted under applicable law.
Forward-Looking Statements
This news release contains forward-looking statements within the
meaning of the federal securities laws that are based on Lockheed
Martin's current expectations and assumptions. The statements in
this press release regarding the planned exchange offer, the terms
and conditions thereof and other statements that are not historical
facts are forward-looking. These statements are subject to
risks and uncertainties.
The forward-looking statements contained in this news release
speak only as of the date of its filing. Except where required by
applicable law, Lockheed Martin expressly disclaims a duty to
provide updates to forward-looking statements after the date of
this news release to reflect subsequent events, changed
circumstances, changes in expectations, or the estimates and
assumptions associated with them. The forward-looking statements in
this news release are intended to be subject to the safe harbor
protection provided by the federal securities laws.
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SOURCE Lockheed Martin