Howmet Aerospace Inc. has announced the pricing of its underwritten public offering of $400,000,000 aggregate principal amount of 3.750% notes due 2028, $300,000,000 aggregate principal amount of 3.900% notes due 2029, and $500,000,000 aggregate principal amount of 4.750% notes due 2036.
The company intends to use the net proceeds from the offering, together with $600 million of borrowings under its commercial paper program or debt facilities and cash on hand, to finance the approximately $1.8 billion purchase price for the proposed acquisition of Consolidated Aerospace Manufacturing, LLC.
The offering is expected to close on March 3, 2026, subject to customary closing conditions. Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, and SMBC Nikko Securities America, Inc. are acting as joint book-running managers for the offering.
Howmet Aerospace Inc., headquartered in Pittsburgh, Pennsylvania, is a leading global provider of advanced engineered solutions for the aerospace and transportation industries. The company’s primary businesses focus on jet engine components, aerospace fastening systems, and airframe structural components necessary for mission-critical performance and efficiency in aerospace and defense applications, as well as forged aluminum wheels for commercial transportation. As a result of these announcements, the company's shares have moved 0.28% on the market, and are now trading at a price of $224.89. Check out the company's full 8-K submission here.
