8-KOther EventsExhibits & Filings

LOCKHEED MARTIN CORP 8-K Report, Corporate Update (Mar 12, 2008)

Filed March 12, 2008For Securities:LMT

Summary

Lockheed Martin Corporation (LMT) filed an 8-K on March 12, 2008, to report on the issuance of $500 million in aggregate principal amount of 4.121% Notes due 2013. This debt offering was executed on March 11, 2008, through an underwriting agreement with Goldman, Sachs & Co. The notes will mature on March 14, 2013, with semi-annual interest payments commencing September 14, 2008. The company retains the option to redeem the notes prior to maturity. This filing indicates that Lockheed Martin is leveraging the debt markets to secure financing, which could be for general corporate purposes, capital expenditures, or to refinance existing debt. Investors should note the coupon rate of 4.121% and the maturity date of 2013. The company's ability to issue an unlimited amount of debt securities under the new indenture suggests a flexible approach to future financing needs.

Key Highlights

  • 1Lockheed Martin issued $500 million in 4.121% Notes due 2013.
  • 2The debt offering occurred on March 11, 2008.
  • 3Goldman, Sachs & Co. acted as the lead underwriter.
  • 4Interest payments are semi-annual, with the first payment on September 14, 2008.
  • 5The notes mature on March 14, 2013.
  • 6The company has the option to redeem the notes before maturity.
  • 7A new indenture allows for unlimited future debt issuances.

Frequently Asked Questions

This 8-K filing reports on the execution of an underwriting agreement and an indenture related to the issuance and sale of $500 million of 4.121% Notes due 2013 by Lockheed Martin Corporation.

The notes have an aggregate principal amount of $500 million, bear an interest rate of 4.121% per annum, and mature on March 14, 2013. Interest is payable semi-annually on March 14 and September 14.

Yes, the company has the option to redeem the notes in whole or in part at any time before maturity. Furthermore, the new indenture allows for the issuance of an unlimited amount of debt securities in the future.

The issuance of new debt indicates that Lockheed Martin is actively managing its capital structure and potentially funding future growth, investments, or operational needs through debt financing. The ability to issue unlimited debt under the new indenture suggests a proactive approach to securing future funding sources.