Lockheed Martin to redeem all $1 billion of its floating-rate convertibles due 2033

By Devika Patel

Knoxville, Tenn., June 26 - Lockheed Martin Corp. announced it will redeem all of its $1 billion outstanding floating-rate convertible senior debentures due 2033 on Aug. 15.

The debentures will be redeemed at par and may be converted at any time up to 5 p.m. ET on Aug. 14 at a rate of 13.7998 common shares per $1,000 in principal.

Lockheed Martin is a Bethesda, Md.-defense contracting company.

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