PITTSBURGH – (BUSINESS WIRE) – Howmet Aerospace Inc. (NYSE: HWM) announced today that it will cancel the total outstanding principal amount of $ 476,230,000 of its 5.87% bonds due in 2022 (the “2022 Notes”) on April 1. May 2021 (the “Redemption Date”). . The company expects a total redemption price of approximately $ 500 million, which the company intends to pay in cash. Since the redemption date is not a business day, the redemption price will be paid on May 3, 2021. After the redemption of the 2022 bonds, the next maturity of the bonds will be in October 2024.
About Howmet Aerospace
Howmet Aerospace Inc., headquartered in Pittsburgh, Pennsylvania, is a leading global provider of advanced technical solutions for the aerospace and transportation industries. The company’s primary business focuses on engine components, aerospace fastening systems, and titanium components required for mission-critical performance and efficiency in aerospace and defense applications, and forged wheels for commercial transportation. With nearly 1,150 patents issued and pending, the company’s differentiated technologies enable lighter, more fuel-efficient aircraft to operate with a lower carbon footprint. More information is available at www.howmet.com. More information is available at www.howmet.com. Follow: LinkedIn, Twitter, Instagram, Facebook and YouTube
Dissemination of company information
Howmet Aerospace intends to post future announcements regarding company developments and financial performance on its website at www.howmet.com.
Forward-Looking Statements
This press release contains statements relating to future events and expectations and, as such, constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include those that contain words such as “anticipate” or “believe”. “Might”, “estimate”, “expect”, “forecast”, “goal”, “guidance”, “intend”, “can”, “outlook”, “plan”, “project”, “seek”, “see” “,” Should “,” goals “,” will “,” dignity “or other words of similar meaning. All statements that reflect the Company’s expectations, beliefs or projections about the future, other than historical facts, are forward-looking statements, including, without limitation, expectations regarding the planned repayment of the 2022 Notes. These statements reflect beliefs and assumptions based on the Company’s perception of historical trends, current conditions and expected future developments, as well as other factors that the Company believes to be appropriate under the given circumstances. Forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and changes in circumstances that are difficult to predict. This could mean that the actual results differ materially from those stated in these statements. These risks and uncertainties include, but are not limited to: (a) uncertainty about the duration, extent and impact of the COVID-19 pandemic on the business, results of operations and financial condition of Howmet Aerospace; (b) Worsening global economic and financial market conditions in general, including as a result of health problems with pandemics (including COVID-19 and its impact, including global disruptions in supply, demand and sales, while the COVID-19 pandemic continues and leads increasing travel time, commercial and / or similar restrictions and restrictions); (c) adverse changes in the markets served by Howmet Aerospace; (d) the impact of potential cyber attacks and information technology or data security breaches; (e) the loss of significant customers or adverse changes in customers’ business or financial conditions; (f) manufacturing difficulties or other problems that affect the performance, quality or safety of the product; (g) inability of suppliers to meet obligations arising from supply chain interruptions or otherwise; (h) the inability to achieve sales growth, cash generation, cost savings, restructuring plans, cost reductions, improvement in profitability or strengthening of competitiveness and expected or intended business activity; (i) competition from new product offerings, disruptive technologies or other developments; (j) geopolitical, economic and regulatory risks associated with Howmet Aerospace’s global operations, including compliance with US and foreign trade and tax laws, sanctions, embargoes and other regulations; (k) the outcome of contingent liabilities, including legal proceedings, governmental or regulatory investigations and environmental remediation, that could expose Howmet Aerospace to significant costs and liabilities; (l) failure to comply with government contract provisions; (m) adverse changes in discount rates or investment returns on plan assets; and (n) the other risk factors summarized in Howmet Aerospace’s Form 10-K for the year ended December 31, 2020 and other reports filed with the United States Securities and Exchange Commission. The company disclaims any intention or obligation to publicly update any forward-looking statements, whether in response to new information, future events or otherwise, except as required by law.
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