FALLS CHURCH, Va., Feb. 01, 2021 (GLOBE NEWSWIRE) -- Northrop Grumman Corporation (NYSE: NOC) today announced that it will redeem for cash all of its outstanding 2.55% Senior Notes due October 2022 (“Notes”) on March 24, 2021. The Notes will be redeemed at a “make-whole” premium price, calculated in accordance with the Notes and the indenture and supplemental indenture governing the Notes (the “Make-Whole Redemption”). Northrop Grumman currently expects the Make-Whole Redemption to result in a pre-tax charge of approximately $55 million in the first quarter of 2021, which is not contemplated in its 2021 financial guidance of January 28, 2021. As of the date of this press release, $1.5 billion aggregate principal amount of the Notes were outstanding.

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