Howmet Aerospace Completes Early Redemption of 5.40% Notes Due 2021

Rhea-AI Summary

Howmet Aerospace Inc. (NYSE:HWM) has successfully completed the early redemption of all its outstanding 5.40% Notes due 2021, totaling $360,808,000. The redemption was executed at 100% of the principal amount along with accrued and unpaid interest up to the redemption date. This strategic move reflects the company's commitment to managing its debt efficiently.

Howmet Aerospace specializes in advanced solutions for the aerospace and transportation industries, focusing on jet engine components and aerospace fastening systems.

Positive

• Completed early redemption of $360.8 million in 5.40% Notes, enhancing financial flexibility.

Negative

• None.

Howmet Aerospace Inc. (NYSE:HWM) announced today that it has completed the previously indicated early redemption of all of its outstanding 5.40% Notes due 2021 (the “Notes”) in the aggregate principal amount of $360,808,000. The Notes were redeemed at 100% of the principal amount of the Notes, plus accrued and unpaid interest up to, but not including, the redemption date.

About Howmet Aerospace

Howmet Aerospace Inc., headquartered in Pittsburgh, Pennsylvania, is a leading global provider of advanced engineered solutions for the aerospace and transportation industries. The Company’s primary businesses focus on jet engine components, aerospace fastening systems, and titanium structural parts necessary for mission-critical performance and efficiency in aerospace and defense applications, as well as forged wheels for commercial transportation. With nearly 1,200 granted and pending patents, the Company’s differentiated technologies enable lighter, more fuel-efficient aircraft to operate with a lower carbon footprint. In 2019, the businesses of Howmet Aerospace reported annual revenue of over $7 billion. For more information, visit www.howmet.com. Follow: LinkedIn, Twitter, Instagram, Facebook, and YouTube.

Dissemination of Company Information

Howmet Aerospace intends to make future announcements regarding Company developments and financial performance through its website at www.howmet.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210115005539/en/

FAQ

What is Howmet Aerospace's recent announcement regarding its debt?

Howmet Aerospace announced the early redemption of all outstanding 5.40% Notes due 2021 amounting to $360.8 million.

When did Howmet Aerospace redeem its 5.40% Notes?

The redemption of the 5.40% Notes occurred as previously indicated, with the exact date not specified in the announcement.

What is the total amount redeemed by Howmet Aerospace?

Howmet Aerospace redeemed $360,808,000 of its 5.40% Notes.

What does the redemption of the Notes mean for HWM shareholders?

The early redemption of the Notes may improve financial flexibility for HWM shareholders.