Financing ·
Howmet Aerospace prepays ¥29,702M JPY Term Loan and executes cross-currency swap on $300M of 6.75% Notes due 2028 to cut interest expense by ~$12M annually
HWMHowmet Aerospace Inc.
Howmet Aerospace is recasting its historical segment information to move a titanium alloy facility from Engine Products to Engineered Structures, a change that has no impact on consolidated financial results. Additionally, the company prepaid its ¥29,702 million JPY Term Loan Facility and executed a cross-currency swap on $300 million of its 6.750% Notes due 2028, which is expected to reduce annual interest expense by approximately $12 million.