WICHITA, Kan., Feb. 12, 2021 /PRNewswire/ -- Spirit
AeroSystems Holdings, Inc. [NYSE: SPR] (the "Company") announced
today that it has given notice of its intention to redeem in full
the outstanding $300 million
principal amount of its Senior Floating Rate Notes due 2021 (CUSIP
Number 85205T AH3) (the "Notes") on February
24, 2021 (the "Redemption Date"). The Notes will be redeemed
at a redemption price of 100.000% of their principal amount, plus
accrued and unpaid interest to, but excluding, the Redemption
Date.
The Company has instructed The Bank of New York Mellon Trust
Company, N.A., as the trustee for the Notes, to distribute a notice
of redemption to all registered holders of the Notes on
February 12, 2021.
About Spirit AeroSystems, Inc.
Spirit AeroSystems is
one of the world's largest manufacturers of aerostructures for
commercial airplanes, defense platforms, and business/regional
jets. With expertise in aluminum and advanced composite
manufacturing solutions, the company's core products include
fuselages, integrated wings and wing components, pylons, and
nacelles. Also, Spirit serves the aftermarket for commercial and
business/regional jets. Headquartered in Wichita, Kansas, Spirit has facilities in the
U.S., U.K., France, Malaysia and Morocco. More information is available at
www.spiritaero.com.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995, as amended, that may involve many risks and uncertainties.
Forward-looking statements generally can be identified by the use
of forward-looking terminology such as "aim," "anticipate,"
"believe," "could," "continue," "estimate," "expect," "goal,"
"forecast," "intend," "may," "might," "objective," "outlook,"
"plan," "predict," "project," "should," "target," "will," "would,"
and other similar words, or phrases, or the negative thereof,
unless the context requires otherwise. These statements reflect
management's current views with respect to future events based on
current expectations and assumptions that we believe to be
reasonable when made, and are subject to risks and uncertainties,
both known and unknown. Our actual results may vary materially from
those anticipated in forward-looking statements. We caution
investors not to place undue reliance on any forward-looking
statements.
Important factors that could cause actual results to differ
materially from those reflected in such forward-looking statements
and that should be considered in evaluating our outlook include,
but are not limited to, the following: the impact of the COVID-19
pandemic on our business and operations, including on the demand
for our and our customers' products and services, on trade and
transport restrictions, on the global aerospace supply chain, on
our ability to retain the skilled work force necessary for
production and development, and generally on our ability to
effectively manage the impacts of the COVID-19 pandemic on our
business operations; demand for our products and services and the
general effect of economic or geopolitical conditions, or other
events, such as pandemics, in the industries and markets in which
we operate in the U.S. and globally; the timing and conditions
surrounding regulatory approvals for the B737 MAX, future demand
for the aircraft, and any residual impacts of the B737 MAX
grounding on production rates for the aircraft; our reliance on
Boeing and Airbus for a significant portion of our revenues; the
business condition and liquidity of our customers and their ability
to satisfy their contractual obligations to the Company; the
certainty of our backlog, including the ability of customers to
cancel or delay orders prior to shipment; our ability to accurately
estimate and manage performance, cost, margins, and revenue under
our contracts, and the potential for additional forward losses on
new and maturing programs; our accounting estimates for revenue and
costs for our contracts and potential changes to those estimates;
our ability to continue to grow and diversity our business, execute
our growth strategy, and secure replacement programs, including our
ability to enter into profitable supply arrangements with
additional customers; the outcome of product warranty or defective
product claims and the impact settlement of such claims may have on
our accounting assumptions; our dependence on our suppliers, as
well as the cost and availability of raw materials and purchased
components; our ability and our suppliers' ability to meet
stringent delivery (including quality and timeliness) standards and
accommodate changes in the build rates of aircraft; our ability to
maintain continuing, uninterrupted production at our manufacturing
facilities and our suppliers' facilities; competitive conditions in
the markets in which we operate, including in-sourcing by
commercial aerospace original equipment manufacturers; our ability
to successfully negotiate, or re-negotiate, future pricing under
our supply agreements with Boeing, Airbus and other customers; our
ability to effectively integrate the acquisition of select assets
of Bombardier along with other acquisitions that we pursue, and
generate synergies and other cost savings therefrom, while avoiding
unexpected costs, charges, expenses, and adverse changes to
business relationships and business disruptions; the possibility
that our cash flows may not be adequate for our additional capital
needs; any reduction in our credit ratings; our ability to access
the capital markets to fund our liquidity needs, and the costs and
terms of any additional financing; our ability to avoid or recover
from cyber-based or other security attacks and other operations
disruptions; legislative or regulatory actions, both domestic and
foreign, impacting our operations, including the effect of changes
in tax laws and rates and our ability to accurately calculate and
estimate the effect of such changes; our ability to recruit and
retain a critical mass of highly skilled employees; our
relationships with the unions representing many of our employees,
including our ability to avoid labor disputes and work stoppages
with respect to our union employees; spending by the U.S. and other
governments on defense; pension plan assumptions and future
contributions; the effectiveness of our internal control over
financial reporting; the outcome or impact of ongoing or future
litigation, claims, and regulatory actions or investigations,
including our exposure to potential product liability and warranty
claims; adequacy of our insurance coverage; our ability to continue
selling certain receivables through our supplier financing
programs; and the risks of doing business internationally,
including fluctuations in foreign currency exchange rates,
impositions of tariffs or embargoes, trade restrictions, compliance
with foreign laws, and domestic and foreign government
policies.
Further information concerning these and other factors can be
found in our Securities and Exchange Commission filings. These
factors are not exhaustive and it is not possible for us to predict
all factors that could cause actual results to differ materially
from those reflected in our forward-looking statements. These
factors speak only as of the date hereof, and new factors may
emerge or changes to the foregoing factors may occur that could
impact our business. As with any projection or forecast, these
statements are inherently susceptible to uncertainty and changes in
circumstances. Except to the extent required by law, we undertake
no obligation to, and expressly disclaim any obligation to,
publicly update or revise any forward-looking statements, whether
as a result of new information, future events, or otherwise.
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SOURCE Spirit AeroSystems