Northrop Grumman issues make-whole call for 3.7% notes, 1.85% notes

By Tali David

Minneapolis, May 28 - Northrop Grumman Corp. plans to redeem all $350 million of its 3.7% senior notes due 2014 and all $500 million of 1.85% senior notes due 2015, according to a news release.

The notes will be redeemed at par plus a make-whole premium and accrued interest on June 27.

Northrop Grumman said it currently expects the make-whole premiums to result in a one-time, pre-tax charge of about $30 million in the second quarter of 2013.

Northrop Grumman is a Los Angeles-based security company providing products and solutions in aerospace, electronics, technical services and information systems.

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