8-KOther EventsExhibits & Filings

GENERAL DYNAMICS CORP 8-K Report, Corporate Update (Jun 24, 2009)

Filed June 24, 2009For Securities:GD

Summary

General Dynamics Corporation (GD) announced on June 24, 2009, the successful completion of a $750 million debt offering. The company issued 1.800% Notes due 2011, raising significant capital through this issuance. This move likely aims to bolster the company's liquidity, fund ongoing operations, or support strategic initiatives, particularly in the prevailing economic climate of 2009. Investors should note that the offering was registered under a previously filed S-3ASR registration statement. The detailed terms of the debt issuance are further elaborated in the Underwriting Agreement and the Fifth Supplemental Indenture, which are filed as exhibits to this report. This debt issuance represents a key financial event for GD, impacting its capital structure and leverage.

Key Highlights

  • 1General Dynamics Corporation completed a $750 million offering of 1.800% Notes due 2011.
  • 2The debt issuance occurred on June 24, 2009.
  • 3The notes were sold under an underwriting agreement dated June 19, 2009.
  • 4The issuance was registered under a Form S-3ASR filed on December 8, 2008.
  • 5The notes were issued pursuant to a Fifth Supplemental Indenture dated June 24, 2009.
  • 6Key underwriters included Banc of America Securities LLC, J.P. Morgan Securities Inc., and RBS Securities Inc.

Frequently Asked Questions

This 8-K filing announces the completion of General Dynamics Corporation's $750 million debt offering, specifically the issuance of 1.800% Notes due 2011.

The notes have a principal amount of $750,000,000 and bear an interest rate of 1.800% per annum, maturing in 2011.

More detailed information can be found in the filed exhibits to this 8-K, including the Underwriting Agreement dated June 19, 2009, and the Fifth Supplemental Indenture dated June 24, 2009.

While the filing does not explicitly state the purpose, companies typically issue debt to raise capital for various reasons, such as funding operations, acquisitions, capital expenditures, or refinancing existing debt, especially during periods of economic uncertainty.