UK defence financing
UK defence financing on file: BAE Systems and Babcock bond issues, UK Export Finance support for allies' purchases and the UK and Ukraine credit support arrangements, with terms and primary sources.
Randeep Bubbra | Lawyer | Making defence financeable
11Financings on file
US$22.3bnFunded volume (US$ eq.)
5Investments and M&A
US$9.8bnLargest financing
Largest financing
UK Export Finance support for Poland's NAREW air defence programme, 31 Oct 2024.
By type
| Type | Financings | Funded (US$) |
|---|---|---|
| Export credit | 5 | US$12.0bn |
| Bond | 6 | US$10.3bn |
Banks and lenders named
UK Export Finance (2).
Counts are financings on file where the bank or lender is named. All lenders.
Financings
| Date | Financing | Type | Amount |
|---|---|---|---|
| 7 Jul 2026 | Babcock International £250m 5.125% bonds due 2031 | Bond | £250m |
| 14 Mar 2025 | UKEF defence direct lending capacity raised by £2bn | Export credit | £2bn |
| 2 Mar 2025 | UK Export Finance-backed £1.6bn financing for Ukraine's LMM air defence missiles | Export credit | £1.6bn |
| 31 Oct 2024 | UK Export Finance support for Poland's NAREW air defence programme | Export credit | £7.7bn |
| 24 Jul 2024 | UK/Ukraine Defence Credit Support Treaty | Export credit | £3.5bn |
| Mar 2024 | BAE Systems US$4.8bn notes refinancing the Ball Aerospace acquisition | Bond | US$4.8bn |
| 9 Sep 2020 | BAE Systems US$2bn notes (1.900% 2031 and 3.000% 2050) | Bond | US$2bn |
| 8 Apr 2020 | BAE Systems US$1.3bn 3.400% notes due 2030 | Bond | US$1.3bn |
| 19 Sep 2018 | UK Export Finance support for Typhoon export to Qatar | Export credit | £5bn |
| 4 Oct 2016 | Babcock International £300m 1.875% bonds due 2026 | Bond | £300m |
| 4 Dec 2015 | BAE Systems US$1.5bn guaranteed notes (3 tranches) | Bond | US$1.5bn |
Investments and M&A
| Date | Deal | Type | Value |
|---|---|---|---|
| 3 Feb 2025 | Teledyne acquisition of Excelitas aerospace and defence electronics businesses | M&A | US$710m |
| 13 Sep 2022 | Parker Hannifin acquisition of Meggitt | M&A | £6.3bn |
| 1 Aug 2022 | Advent (Cobham Ultra) acquisition of Ultra Electronics | M&A | £2.58bn |
| 22 Jan 2020 | Advent International acquisition of Cobham | M&A | £4bn |
| 28 Mar 2017 | Teledyne acquisition of e2v | M&A | US$789m |
Totals are US$ equivalents of funded deals at approximate annual average rates; programme-level and conditional commitments are listed but left out. Records come from public, primary sources. How the register is built.