Northrop Grumman Prices $1.0 Billion Debt Offering
Northrop Grumman (NYSE: NOC) has announced the pricing of a $1.0 billion senior unsecured notes offering, comprising two tranches: $500 million of 4.650% senior notes due 2030 and $500 million of 5.250% senior notes due 2035.
The global aerospace and defense technology company plans to use the proceeds for general corporate purposes, including potential debt repayment of its 7.875% and 7.750% senior notes due 2026, share repurchases, and working capital. The offering is expected to close on May 29, 2025, subject to customary closing conditions.
Northrop Grumman (NYSE: NOC) ha annunciato il prezzo di un'offerta di obbligazioni senior unsecured per un valore totale di 1,0 miliardi di dollari, suddivisa in due tranche: 500 milioni di dollari di obbligazioni senior al 4,650% con scadenza 2030 e 500 milioni di dollari di obbligazioni senior al 5,250% con scadenza 2035.
La società globale nel settore aerospaziale e della difesa prevede di utilizzare i proventi per scopi aziendali generali, inclusa l'eventuale estinzione del debito relativo alle sue obbligazioni senior al 7,875% e 7,750% in scadenza nel 2026, riacquisto di azioni e capitale circolante. L'offerta dovrebbe concludersi il 29 maggio 2025, subordinatamente alle consuete condizioni di chiusura.
Northrop Grumman (NYSE: NOC) ha anunciado la fijación del precio de una oferta de bonos senior no garantizados por un total de 1.000 millones de dólares, compuesta por dos tramos: 500 millones de dólares en bonos senior al 4,650% con vencimiento en 2030 y 500 millones de dólares en bonos senior al 5,250% con vencimiento en 2035.
La compañía global de tecnología aeroespacial y de defensa planea utilizar los ingresos para fines corporativos generales, incluyendo la posible amortización de su deuda con bonos senior al 7,875% y 7,750% con vencimiento en 2026, recompra de acciones y capital de trabajo. Se espera que la oferta cierre el 29 de mayo de 2025, sujeto a condiciones habituales de cierre.
노스럽 그루먼 (NYSE: NOC)은 총 10억 달러 규모의 선순위 무담보 채권 발행 가격을 발표했으며, 두 개의 트랜치로 구성됩니다: 2030년 만기 4.650% 선순위 채권 5억 달러와 2035년 만기 5.250% 선순위 채권 5억 달러입니다.
이 글로벌 항공우주 및 방위 기술 회사는 수익금을 일반 기업 목적, 2026년 만기 7.875% 및 7.750% 선순위 채권의 잠재적 부채 상환, 자사주 매입 및 운전자본에 사용할 계획입니다. 이 공모는 일반적인 종결 조건을 충족하는 것을 전제로 2025년 5월 29일에 마감될 예정입니다.
Northrop Grumman (NYSE : NOC) a annoncé le prix d'une émission d'obligations senior non garanties d'un montant total de 1,0 milliard de dollars, composée de deux tranches : 500 millions de dollars d'obligations senior à 4,650 % arrivant à échéance en 2030 et 500 millions de dollars d'obligations senior à 5,250 % arrivant à échéance en 2035.
La société mondiale de technologie aérospatiale et de défense prévoit d'utiliser les fonds pour des besoins généraux d'entreprise, incluant le remboursement éventuel de ses obligations senior à 7,875 % et 7,750 % arrivant à échéance en 2026, des rachats d'actions et du fonds de roulement. L'opération devrait se clôturer le 29 mai 2025, sous réserve des conditions habituelles de clôture.
Northrop Grumman (NYSE: NOC) hat die Preisfestsetzung für eine Emission von 1,0 Milliarden US-Dollar unbesicherter Senior Notes bekannt gegeben, die aus zwei Tranchen besteht: 500 Millionen US-Dollar Senior Notes mit 4,650% Verzinsung und Fälligkeit 2030 sowie 500 Millionen US-Dollar Senior Notes mit 5,250% Verzinsung und Fälligkeit 2035.
Das globale Luft- und Raumfahrt- sowie Verteidigungstechnologieunternehmen plant, die Erlöse für allgemeine Unternehmenszwecke zu verwenden, darunter die mögliche Rückzahlung seiner Senior Notes mit 7,875% und 7,750% Verzinsung, fällig 2026, Aktienrückkäufe und Betriebskapital. Der Abschluss des Angebots wird voraussichtlich am 29. Mai 2025 erfolgen, vorbehaltlich der üblichen Abschlussbedingungen.
- Refinancing of higher interest rate debt (7.875% and 7.750%) with lower rates (4.650% and 5.250%)
- Potential share repurchases could enhance shareholder value
- Improved debt maturity profile with extended due dates to 2030 and 2035
- Increased total debt burden of $1.0 billion
- Additional interest expenses from new debt issuance
Insights
Northrop Grumman's $1B debt offering with favorable rates enables strategic debt refinancing and buybacks while maintaining financial flexibility.
Northrop Grumman's new
What's particularly noteworthy is how these new notes compare to the debt they're likely replacing. The company explicitly mentions potential repayment of their
The offering's flexibility in fund allocation is also important. Beyond debt repayment, proceeds may support share repurchases – signaling confidence in the company's valuation and commitment to returning capital to shareholders. This aligns with typical aerospace & defense industry capital allocation strategies, where share repurchases are common during periods of strong operational performance.
The successful pricing of this debt also demonstrates continued strong market access for Northrop Grumman. In the current interest rate environment, securing these rates reflects investor confidence in the company's creditworthiness and long-term prospects as a leading defense contractor. The debt offering enhances Northrop's financial flexibility while optimizing its capital structure through lower-cost, longer-term financing.
FALLS CHURCH, Va., May 27, 2025 (GLOBE NEWSWIRE) -- Northrop Grumman Corporation (NYSE: NOC) (“Northrop Grumman”) announced today that it has priced a
$500 million of4.650% senior notes due 2030$500 million of5.250% senior notes due 2035
Northrop Grumman expects to use the net proceeds from the offering for general corporate purposes, which may include debt repayment (including its
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 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, 2024, and from time to time in our other filings with the Securities and Exchange Commission. 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: | Kate Mauss (Media) 410-832-6792 (office) katherine.mauss@ngc.com | |
| Todd Ernst (Investors) 703-280-4535 (office) todd.ernst@ngc.com |
FAQ
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