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.