Curtiss-Wright Announces Successful Completion of $300 Million Debt Offering
Curtiss-Wright Corporation (NYSE: CW) has successfully completed a private placement debt offering of $300 million. This includes $200 million in 4.49% senior notes due 2032 and $100 million in 4.64% senior notes due 2034. The net proceeds will be used for general corporate purposes, including reducing debt and potential acquisitions. CEO Lynn M. Bamford indicated that this financing enhances the company's balance sheet and supports long-term profitable growth.
- Successful completion of a $300 million private placement debt offering.
- Enhancement of balance sheet strength and financial flexibility.
- Proceeds will potentially support acquisitions and growth initiatives.
- None.
"We are pleased with the significant response we received for this debt offering to bolster our strong and healthy balance sheet,” said
Curtiss-Wright expects to use the net proceeds from the offering for general corporate purposes, which may include reducing outstanding indebtedness under the Company's revolving credit facilities, possible future acquisitions or funding internal growth initiatives.
The Notes were offered and sold to institutional accredited investors in a private placement that qualifies for exemption from registration under the Securities Act of 1933, as amended (the "Securities Act"). The Notes will not be registered for resale under the Securities Act and may not be offered or sold absent such registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws.
This press release does not constitute an offer to sell or the solicitation of an offer to buy the Notes, nor shall there be any sale of the Notes in any state in which any such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state, and is issued pursuant to Rule 135c under the Securities Act.
About
View source version on businesswire.com: https://www.businesswire.com/news/home/20221027006090/en/
(704) 869-4621
jim.ryan@curtisswright.com
Source:
FAQ
What is the amount raised in Curtiss-Wright's recent debt offering?
What are the interest rates of the senior notes issued by Curtiss-Wright?
How will Curtiss-Wright use the proceeds from its debt offering?
Who is the CEO of Curtiss-Wright Corporation?