---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-121269"
form_type: "8-K"
ticker: "HWM"
cik: "0000004281"
company_name: "Howmet Aerospace Inc."
filed_at: "2023-11-27T23:59:59+00:00"
generated_at: "2026-06-07T21:42:57.366460+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Howmet secures $200M USD and ¥33B JPY term loans, redeems $500M 5.125% notes due 2024

## Summary
- Entered $200M USD and ¥33B JPY senior unsecured term loans maturing Nov 22, 2026.
- Redeeming $500M of 5.125% Notes due 2024 on Dec 28, 2023 at expected price ~$506M.
- Redemption funded by new credit facilities and cash on hand; intends to fix floating rates via swaps.
- Loans bear floating rates with margins based on credit ratings (current: 1.750% Term SOFR, 1.750% JPY).
- Leverage covenant requires Consolidated Net Debt/EBITDA ≤3.75x.

## SEC filing metadata
- accession: 0001104659-23-121269
- form_type: 8-K
- ticker: HWM
- cik: 0000004281
- company_name: Howmet Aerospace Inc.
- filed_at: 2023-11-27T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.03, 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/4281/000110465923121269/0001104659-23-121269-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/4281/000110465923121269/tm2331561d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-121269
- JSON: https://secwatch.observer/filing/0001104659-23-121269.json
- Plain text: https://secwatch.observer/filing/0001104659-23-121269.txt

## Key facts
- Debt Financings
  Howmet Aerospace Inc. incurred term loan of $200 million and ¥33 billion with Truist Bank (as administrative agent) on USD facility; Sumitomo Mitsui Banking Corporation (as administrative agent) on JPY facility at USD Credit Facility: base rate or Term SOFR plus adjustment, plus applicable mar maturing November 22, 2026.
  - Instrument: term loan
  - Principal: $200 million and ¥33 billion
  - Counterparty: Truist Bank (as administrative agent) on USD facility; Sumitomo Mitsui Banking Corporation (as administrative agent) on JPY facility
  - Rate: USD Credit Facility: base rate or Term SOFR plus adjustment, plus applicable mar
  - Maturity: November 22, 2026
  - Event: incurrence
  source text: among the Company, a syndicate of lenders named therein, and Sumitomo Mitsui Banking Corporation, as administrative agent for the lenders. The USD Term Loan Agreement provides a $200 million senior unsecured delayed draw term loan facility (the “ USD Credit Facility ”) that matures on November 22, 2026, unless earlier terminated in accordance with the provisions of
  evidence_url: https://www.sec.gov/Archives/edgar/data/4281/000110465923121269/0001104659-23-121269-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.