HUNTINGTON INGALLS INDUSTRIES ANNOUNCES PRICING OF 3.483% SENIOR NOTES DUE 2027

NEWPORT NEWS, Va., Nov. 16, 2017 (GLOBE NEWSWIRE) -- Huntington Ingalls Industries, Inc. (NYSE:HII) (“HII” or the “Company”) announced today that it has priced its offering of $600 million aggregate principal amount of 3.483% Senior Notes due 2027 (the “Notes”). The Notes will be fully and unconditionally guaranteed by each of the Company’s domestic subsidiaries that guarantees debt under its credit facility. The offering is expected to close on Dec. 1, 2017, subject to customary closing conditions.

The Company intends to use the net proceeds from the sale of the Notes to redeem all of its $600,000,000 aggregate principal amount of 5.000% Senior Notes due 2021 (the “2021 Notes”). The Company has instructed the trustee under the 2021 Notes to issue a notice of redemption to holders of the 2021 Notes on Nov. 17, 2017.

The Notes will be offered in the United States to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and outside the United States pursuant to Regulation S under the Securities Act.

The Notes have not been registered under the Securities Act and, unless so registered, may not be offered or sold in the United States absent an applicable exemption from registration requirements. This notice is being issued pursuant to and in accordance with Rule 135c under the Securities Act.

This press release is neither an offer to sell nor the solicitation of an offer to buy the Notes or any other securities, and there shall not be any offer to sell, solicitation of an offer to buy or sale of the Notes in any jurisdiction in which, or to any person to whom, such an offer, solicitation or sale is unlawful. Any offers of the Notes will be made only by means of an offering memorandum.

Huntington Ingalls Industries is America’s largest military shipbuilding company and a provider of professional services to partners in government and industry. For more than a century, HII’s Newport News and Ingalls shipbuilding divisions in Virginia and Mississippi have built more ships in more ship classes than any other U.S. naval shipbuilder. HII’s Technical Solutions division provides a wide range of professional services through its Fleet Support, Integrated Missions Solutions, Nuclear & Environmental and Oil & Gas groups. Headquartered in Newport News, Virginia, HII employs nearly 37,000 people operating both domestically and internationally.