Lockheed Martin to redeem 2023 notes, portion of 2025, 2026 notes

By Wendy Van Sickle

Columbus, Ohio, April 21 – Lockheed Martin Corp. plans to redeem all $500 million of its 3.1% notes due Jan. 5, 2023 and $750 million of its 2.9% notes due March 1, 2025 with proceeds of a new offering of fixed-rate notes in three tranches, according to a 424B5 filed with the Securities and Exchange Commission.

The company also plans to use the balance of the proceeds of the new notes to redeem a portion of its $2 billion of 3.55% notes due Jan. 15, 2026.

Additional proceeds may be used for general corporate purposes.

Wells Fargo Securities LLC and BofA Securities Inc. are the bookrunners for the offering.

The security and aerospace company is based in Bethesda, Md.

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