Lockheed Martin plans to price fixed-rate notes in two tranches

By Devika Patel

Knoxville, Tenn., May 15 – Lockheed Martin Corp. will price fixed-rate notes (A-) in two tranches, according to a 424B5 filed with the Securities and Exchange Commission.

The notes have make-whole calls and then par calls.

Mizuho Securities USA Inc. and Morgan Stanley & Co. LLC are the bookrunners.

The Bethesda, Md.-based security and aerospace company plans to use the proceeds from the offering to redeem a portion of its $900 million of 3.35% notes due Sept. 15, 2021 and to repay a portion of its $1.25 billion of 2.5% notes at or prior to maturity on Nov. 23, 2020.

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