Summary
Howmet Aerospace Inc. (formerly Arconic Inc. at the time of this filing) reported on March 7, 2018, the completion of an early redemption of all its outstanding 5.72% Notes due 2019. The aggregate principal amount of these notes was $500,001,000. This redemption involved a payment of $516.8 million, which includes a premium of $1033.60 per $1,000.00 principal amount, in addition to accrued and unpaid interest. This action signals a proactive approach by the company to manage its debt obligations, potentially indicating a shift in its capital structure or a belief that current financing costs are not optimal.
Key Highlights
- 1Completed early redemption of all 5.72% Notes due 2019.
- 2Aggregate principal amount of redeemed notes was $500,001,000.
- 3Total payment for redemption amounted to $516.8 million.
- 4Redemption price included a premium of $1033.60 per $1,000.00 principal.
- 5Accrued and unpaid interest was paid up to the redemption date.
- 6Company name at the time of filing was Arconic Inc.