Howmet Aerospace calls $500 million portion of 5.125% notes

By Wendy Van Sickle

Columbus, Ohio, Nov. 27 – Howmet Aerospace, Inc. issued a notice to redeem a $500 million portion of its 5.125% notes due 2024 (Cusip: 013817AW1) on Dec. 28, according to an 8-K filing with the Securities and Exchange Commission.

The redemption price will be the greater of par and a make-whole amount at Treasuries plus 40 basis points. The company expects the total redemption price to be about $506 million, which it will fund with credit facility borrowings and cash on hand.

Prior to the redemption, $705,273,000 of the notes is outstanding.

Bank of New York Mellon Trust Co., NA is the trustee.

Pittsburgh-based Howmet is a global provider of advanced engineered solutions for the aerospace and transportation industries.

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