Northrop Grumman Announces Results of Cash Tender Offer for Gulf Opportunity Zone Industrial Development Revenue Bonds

Dec 01, 2010, 08:00 ET from Northrop Grumman Corporation

LOS ANGELES, Dec. 1, 2010 /PRNewswire-FirstCall/ -- Northrop Grumman Corporation (NYSE: NOC) announced today the results of the cash tender offer for any and all of an aggregate $200 million of 4.55% Gulf Opportunity Zone Industrial Development Revenue Bonds due December 1, 2028 (GoZone bonds) on the terms and conditions set forth in the Offer to Purchase dated November 1, 2010, and related Letter of Transmittal.  The tender offer expired at 11:59 p.m., New York City time, on November 30, 2010.  As of the expiration an aggregate principal amount of $178.4 million of the $200 million GoZone bonds outstanding had been validly tendered and accepted.  

The consideration for each $1,000 principal amount of bonds validly tendered and accepted for purchase is $1,000.  In addition, all holders of the tendered bonds accepted for purchase will receive accrued and unpaid interest from the last interest payment date up to but not including the settlement date, which is expected to be December 2, 2010.

J.P. Morgan Securities LLC acted as Lead Dealer Manager and Morgan Stanley & Co. Inc. and SunTrust Robinson Humphrey acted as Co-Dealer Managers for the Offer.  Questions about the Offer may be directed to J.P. Morgan Securities LLC at (866) 834-4666 (toll free) or (212) 834-3261 (collect). Global Bondholder Services Corporation is serving as information agent for the Offer.  Copies of the Offer to Purchase, Letter of Transmittal and other related documents may be obtained by calling Global Bondholder Services at (866) 804-2200 (toll free) or (212) 430-3774 (collect).

Northrop Grumman Corporation is a leading global security company whose 120,000 employees provide innovative systems, products, and solutions in aerospace, electronics, information systems, shipbuilding and technical services to government and commercial customers worldwide.  Please visit www.northropgrumman.com for more information.

SOURCE Northrop Grumman Corporation



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