Spirit AeroSystems Announces Full Redemption of 3.950% Senior Notes due 2023
09 November 2022 - 10:58PM
Business Wire
Spirit AeroSystems Holdings, Inc. [NYSE: SPR] (the “Company”)
announced today that Spirit AeroSystems, Inc. (“Spirit”), a wholly
owned subsidiary of the Company, has given a conditional notice of
its intention to redeem in full the outstanding $300 million
principal amount of its 3.950% Senior Notes due 2023 (CUSIP Number
85205T AJ9) (the “Notes”) on November 23, 2022 (the “Redemption
Date”). The Notes will be redeemed at a redemption price equal to
the greater of 100% of the principal amount of the Notes or a price
based on the adjusted treasury rate plus twenty basis points, plus,
in either case, accrued and unpaid interest to, but excluding, the
Redemption Date. The redemption of the Notes is conditioned on the
completion by Spirit of an issuance of at least $800 million
aggregate principal amount of senior notes no later than the
Redemption Date on terms and conditions satisfactory in all
respects to Spirit in its sole and absolute discretion.
Spirit has instructed The Bank of New York Mellon Trust Company,
N.A., as the trustee for the Notes, to distribute a notice of
redemption to all registered holders of the Notes.
About Spirit AeroSystems Inc.
Spirit AeroSystems is one of the world’s largest manufacturers
of aerostructures for commercial airplanes, defense platforms, and
business/regional jets. With expertise in aluminum and advanced
composite manufacturing solutions, the company’s core products
include fuselages, integrated wings and wing components, pylons,
and nacelles. Also, Spirit serves the aftermarket for commercial
and business/regional jets. Headquartered in Wichita, Kansas,
Spirit has facilities in the U.S., U.K., France, Malaysia and
Morocco.
Forward-Looking Statements
This press release contains "forward-looking statements" that
may involve many risks and uncertainties. Forward-looking
statements generally can be identified by the use of
forward-looking terminology such as "aim," "anticipate," "believe,"
"could," "continue," "estimate," "expect," "goal," "forecast,"
"intend," "may," "might," "objective," "outlook," "plan,"
"predict," "project," "should," "target," "will," "would," and
other similar words, or phrases, or the negative thereof, unless
the context requires otherwise. These statements reflect
management's current views with respect to future events and are
subject to risks and uncertainties, both known and unknown. Our
actual results may vary materially from those anticipated in
forward-looking statements. We caution investors not to place undue
reliance on any forward-looking statements. Important factors that
could cause actual results to differ materially from those
reflected in such forward-looking statements and that should be
considered in evaluating our outlook include, without limitation,
the impact of the COVID-19 pandemic on our business and operations;
the timing and conditions surrounding the full worldwide return to
service (including receiving the remaining regulatory approvals) of
the B737 MAX, future demand for the aircraft, and any residual
impacts of the B737 MAX grounding on production rates for the
aircraft; our reliance on Boeing for a significant portion of our
revenues; our ability to execute our growth strategy, including our
ability to complete and integrate acquisitions; our ability to
accurately estimate and manage performance, cost, and revenue under
our contracts; demand for our products and services and the effect
of economic or geopolitical conditions in the industries and
markets in which we operate in the U.S. and globally; our ability
to manage our liquidity, borrow additional funds or refinance debt;
and other factors disclosed in our filings with the Securities and
Exchange Commission. These factors are not exhaustive and it is not
possible for us to predict all factors that could cause actual
results to differ materially from those reflected in our
forward-looking statements. These factors speak only as of the date
hereof, and new factors may emerge or changes to the foregoing
factors may occur that could impact our business. Except to the
extent required by law, we undertake no obligation to, and
expressly disclaim any obligation to, publicly update or revise any
forward-looking statements, whether as a result of new information,
future events, or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20221109006078/en/
Media: Jessica Napoli (316) 691-0252
jessica.napoli@spiritaero.com
Investor Relations: (316) 523-7040
investorrelations@spiritaero.com
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