FALLS CHURCH, Va. – June 11, 2018 – Northrop Grumman Corporation (NYSE: NOC) announced today that its wholly owned subsidiary, Northrop Grumman Innovation Systems, Inc. (formerly Orbital ATK, Inc., formerly Alliant Techsystems Inc.), will redeem for cash on July 19, 2018 the following:
- All of its outstanding 5.25% Senior Notes due 2021 (the “5.25% Notes”) at a redemption price of 102.625% plus accrued and unpaid interest. As of the date of this release $300 million aggregate principal amount of the 5.25% Notes were outstanding.
- All of its outstanding 5.50% Senior Notes due 2023 (the “5.50% Notes”) at a “make whole” premium price calculated in accordance with the 5.50% Notes and the indentures and supplemental indentures governing the 5.50% Notes. As of the date of this release $400 million aggregate principal amount of the 5.50% Notes were outstanding.
The redemption of the Notes was contemplated in the company’s updated 2018 financial guidance provided on June 5, 2018.
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Cautionary Statement Regarding Forward-Looking Statements
Statements in this press release, other than statements of historical fact, constitute “forward-looking” information within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “will,” “anticipate,” “expect,” “intend,” “plan,” “believe,” “estimate,” and similar expressions generally identify these forward-looking statements. These forward-looking statements speak only as of the date when made, and Northrop Grumman undertakes no obligation to update or revise any forward-looking statements after the date of this press release except as required by applicable law. Forward-looking statements are not guarantees of future performance and inherently involve a wide range of risks and uncertainties that are difficult to predict. Actual results may differ materially from those described or implied in these statements based on a number of factors. A discussion of these risks and uncertainties is contained in Northrop Grumman’s Annual Report on Form 10-K and in our other filings with the Securities and Exchange Commission.