Northrop Grumman Corporation Completes $750 Million Registered Offering

December 1, 2016

Northrop Grumman Corporation (NGC) completed a registered offering of $750 million in total principal amount of 3.200% senior notes due 2027. S&C represented the underwriters.
NGC expects to use the net proceeds from this offering for general corporate purposes, including debt repayment, pension plan funding and working capital. Debt repayment may include funding the make-whole redemption of NGC's 6.75% senior notes due 2018, of which $200 million aggregate principal amount was outstanding as of September 30.
The S&C team representing the underwriters was led by Alison Ressler and Patrick Brown, along with Helen Lu, Craig Orbelian and Andrew Rogers. Jeffrey Hochberg and Saul Brander are advising on tax matters; Tracey Russell advising on FINRA matters; and Joshua Downer and Jordan Wish assisting with due diligence.