September 24, 2019
NEWPORT NEWS, Va., Sept. 24, 2019 (GLOBE NEWSWIRE) -- Huntington Ingalls Industries, Inc. (NYSE: HII) (the “Company”) announced today that it has established an unsecured commercial paper note program in the United States.
Under the terms of the program, the Company may issue from time to time unsecured commercial paper notes up to a maximum aggregate amount outstanding at any time of $1 billion. The notes will be sold under customary terms in the United States commercial paper note market and will rank pari passu with all of the Company’s other unsecured senior indebtedness. The notes will be fully and unconditionally guaranteed by certain wholly owned subsidiaries of the Company. The proceeds of the notes will be used for general corporate purposes.
The notes and the guarantee to be offered under the commercial paper note program have not been and will not be registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the notes under the Company’s commercial paper note program.
HII is a global, all-domain defense provider. HII's mission is to deliver the world's most powerful ships and all-domain solutions in service of the nation, creating the advantage for our customers to protect peace and freedom around the world.
As the nation's largest military shipbuilder, and with a more than 135-year history of advancing U.S. national security, HII delivers critical capabilities extending from ships to unmanned systems, cyber, ISR, AI/ML and synthetic training. Headquartered in Virginia, HII's workforce is 44,000 strong.
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