Northrop Grumman to redeem 2.55% senior notes due 2022

By Taylor Fox

New York, Feb. 1 – Northrop Grumman Corp. plans to redeem its $1.5 billion outstanding 2.55% senior notes due October 2022, according to a news release.

The notes will be redeemed at a make-whole premium price on March 24.

Northrop expects the make-whole redemption to result in a pre-tax charge of $55 million in the first quarter of 2021, which is not contemplated in its 2021 financial guidance of Jan. 28.

The global security company is based in Falls Church, Va.

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