Northrop Grumman announces $ 1.5 billion debt repayment

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FALLS CHURCH, Va., Feb. 01, 2021 (GLOBE NEWSWIRE) – Northrop Grumman Corporation (NYSE: NOC) today announced that it will redeem in cash all of its 2.55% senior bonds due October 2022 (the “Bonds”) on March 24, 2021. The Notes will be redeemed at a “redemption” premium price calculated in accordance with the Notes and the Deed and Supplementary Deed governing the Notes (the “Global Redemption”). Northrop Grumman currently expects the global buyout to result in a pre-tax charge of approximately $ 55 million in the first quarter of 2021, which is not envisioned in its 2021 financial forecast of January 28, 2021. At the As of this press release, a total principal amount of $ 1.5 billion of the banknotes was in circulation.

Northrop Grumman solves the most difficult problems in space, aeronautics, defense and cyberspace to meet the evolving needs of our customers around the world. Our 97,000 employees define the possible every day, using science, technology and engineering to create and deliver advanced systems, products and services.

Caution Regarding 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 “may”, “could”, “should”, “plan”, “project”, “plan”, “believe”, “estimate”, “direction”, “outlook”, “trends”, “objectives” and similar expressions generally identify such forward-looking statements. Forward-looking statements are based on assumptions, expectations, plans and projections that we believe are 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 which are difficult to predict. The specific risks that could cause actual results to differ materially from those expressed or implied in these forward-looking statements include, without limitation, those identified and discussed in more detail in the section entitled “Risk Factors” in Form 10-K for the fiscal year ended December 31, 2020 and from time to time in our other filings with the Securities and Exchange Commission. You are urged to consider the limitations and risks associated with forward-looking statements and not to place undue reliance on the accuracy of forward-looking statements. These forward-looking statements speak only as of the date on which they are made, and the Company assumes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, events future or otherwise, except as required by applicable law. .


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