Northrop Grumman Prices $2.0 Billion Debt Offering
FALLS CHURCH, Va., Feb. 06, 2023 (GLOBE NEWSWIRE) -- 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
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
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 |