General Dynamics to conduct three-part sale of fixed-rate notes

By Devika Patel

Knoxville, Tenn., May 3 – General Dynamics Corp. intends to price an offering of fixed-rate notes in three tranches due 2026, 2031 and 2041, according to a 424B5 filed with the Securities and Exchange Commission.

The notes will have make-whole calls until the par call date, which is one month prior to maturity for the 2026 notes, three months prior to maturity for the 2031 notes and six months prior to maturity for the 2041 notes, and par calls after those dates.

BofA Securities Inc., J.P. Morgan Securities LLC, Wells Fargo Securities LLC, BBVA Securities Inc., Mizuho Securities USA Inc. and RBC Capital Markets LLC are the bookrunners.

Proceeds will be used to repay the company's $2 billion 3% notes due 2021 and its $500 million floating-rate notes due 2021 upon maturity and for general corporate purposes.

Based in Falls Church, Va., General Dynamics is an aerospace and defense company.

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