Howmet Aerospace closed its previously announced underwritten public offering of $400,000,000 aggregate principal amount of 3.750% notes due 2028, $300,000,000 aggregate principal amount of 3.900% notes due 2029 and $500,000,000 aggregate principal amount of 4.750% notes due 2036 on 3 3, 2026.

1. 01

   Howmet Aerospace closed its previously announced underwritten public offering of $400,000,000 aggregate principal amount of 3.750% notes due 2028, $300,000,000 aggregate principal amount of 3.900% notes due 2029 and $500,000,000 aggregate principal amount of 4.750% notes due 2036 on 3 3, 2026.

2. 02

   The company said the 2028 notes mature on March 3, 2028, the 2029 notes mature on April 15, 2029 and the 2036 notes mature on April 15, 2036, with interest payable semi-annually in arrears. It added that the first interest payment on the 2028 notes is on September 3, 2026 and on the other two series is on October 15, 2026.

3. 03

   Howmet Aerospace said it intends to use the net proceeds from the notes offering, together with $600 million of borrowings under its commercial paper program or debt facilities and cash on hand, to finance the approximately $1.8 billion purchase price for the proposed acquisition of Consolidated Aerospace Manufacturing, LLC.

4. 04

   The company said that if the proposed CAM acquisition is not consummated on or before the outside date under the Purchase Agreement or the Purchase Agreement is terminated, it will be required to redeem the 2036 notes at a special mandatory redemption price equal to 101% of the principal amount plus accrued and unpaid interest. It added that the 2028 and 2029 notes will not be subject to the special mandatory redemption and, if the proposed CAM acquisition is not consummated, the net proceeds from the sale of those notes will be used for general corporate purposes.

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AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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