Northrop Grumman Prices $2.0 Billion Debt Offering
February 06 2023 - 5:31PM
Northrop Grumman Corporation (NYSE: NOC) (“Northrop Grumman”)
announced today that it has priced a $2.0 billion underwritten
public offering of senior unsecured notes. The notes include:
$1.0 billion of 4.700% senior notes due 2033
$1.0 billion of 4.950% senior notes due 2053
Northrop Grumman expects to use the net proceeds from the
offering for general corporate purposes, which may include debt
repayment (including its 3.25% senior notes due 2023), share
repurchases and working capital. The offering is expected to close
on February 8, 2023, 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
Wells Fargo Securities, LLC toll-free at 1-800-645-3751, J.P.
Morgan Securities LLC collect at 1-212-834-4533 and Mizuho
Securities USA LLC toll-free at 1-866-271-7403. 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.
Northrop 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 95,000 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 and discussed more fully
in the section entitled “Risk Factors” in our Form 10-K for the
year ended December 31, 2022, 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,
health, security and political environments, including inflationary
pressures, labor and supply chain challenges and the COVID-19
pandemic, 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 |
|
|
|
Todd Ernst (Investors) |
|
703-280-4535 (office) |
|
todd.ernst@ngc.com |
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