Northrop Grumman Prices $2.5 Billion Debt Offering
FALLS CHURCH, Va., Jan. 29, 2024 (GLOBE NEWSWIRE) -- 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
Corporation
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 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 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 | |
| Todd Ernst (Investors) | |
| 703-280-4535 (office) | |
| todd.ernst@ngc.com | |
