Northrop grumman announces $1.5 billion debt redemption

Falls church, va., feb. 01, 2021 (globe newswire) -- northrop grumman corporation (nyse: noc) today announced that it will redeem for cash all of its outstanding 2.55% senior notes due october 2022 (“notes”) on march 24, 2021. the notes will be redeemed at a “make-whole” premium price, calculated in accordance with the notes and the indenture and supplemental indenture governing the notes (the “make-whole redemption”). northrop grumman currently expects the make-whole redemption to result in a pre-tax charge of approximately $55 million in the first quarter of 2021, which is not contemplated in its 2021 financial guidance of january 28, 2021. as of the date of this press release, $1.5 billion aggregate principal amount of the notes were outstanding.
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