General Dynamics Corporation Completes Sales of Aggregate Principal Amount of 1.150% Notes Due 2026
May 11, 2021 at 01:41 am IST
Share
On May 10, 2021, General Dynamics Corporation completed the sale of an aggregate of $1,500,000,000 principal amount of notes as follows: $500,000,000 aggregate principal amount of 1.150% Notes due 2026, $500,000,000 aggregate principal amount of 2.250% Notes due 2031, and $500,000,000 aggregate principal amount of 2.850% Notes due 2041. The notes were sold pursuant to an Underwriting Agreement, dated as of May 3, 2021, among the Corporation, the Guarantors named therein, and BofA Securities Inc., J.P. Morgan Securities LLC and Wells Fargo Securities, LLC, as representatives of the underwriters named therein. The notes were issued pursuant to the Third Supplemental Indenture, dated as of May 10, 2021, under the Indenture, dated as of March 22, 2018, among the Corporation, the Guarantors named therein and The Bank of New York Mellon, as Trustee.
General Dynamics Corporation specializes in the design, manufacturing and marketing of aeronautical, space, naval, and defense systems and equipment. Net sales break down by family of products and services as follows:
- information systems and technologies (30.6%): telecommunication, control, surveillance, monitoring, and similar systems;
- submarines and boats (29.5%);
- business aircraft (20.4%). Moreover, the group offers maintenance and assistance services etc.;
- defense and security systems (19.5%): armored combat vehicles, land combat systems, weapons systems, munitions, protection and detection systems, etc.
Net sales break down by source of income between sales of products (58.2%) and services (41.8%).
Net sales are distributed geographically as follows: the United States (85.5%), North America (2.3%), Europe (6.5%), Africa and Middle East (2.7%), Asia/Pacific (2.6%) and America Latin (0.4%).