Howmet Aerospace refinances $400M in debt, redeems $500M of 5.125% notes due 2024

Howmet Aerospace Inc.

Drew $200M USD term loan and ¥33B JPY term loan (≈$200M) in December 2023.
Entered interest rate swaps to fix rates; weighted average fixed rate ~3.9%.
Redeemed $500M aggregate principal of 5.125% Notes due Oct 2024 at ~$506M (incl. $6M accrued interest).
Redemption funded by ~$106M cash on hand and ~$400M from term loan facilities.
Remaining outstanding on 2024 Notes approximately $205M.

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