AeroVironment US$700m term loan A for the BlueHalo acquisition
Repay BlueHalo's debt and pay transaction costs on closing of the all-stock BlueHalo merger
Key terms
- Borrower or issuer
- AeroVironment
- Date
- 1 May 2025
- Type
- Acquisition finance
- Amount
- US$700m
- Pricing
- SOFR + 1.50-2.50% plus 0.10% credit spread adjustment (base rate + 0.50-1.50%) depending on leverage
- Maturity
- 2027-05-01
Recorded terms
- Structure
- New term A loan under the 2021 credit agreement (fourth amendment), secured and guaranteed like the revolver, with BlueHalo joined as guarantor; 5% annual amortisation
- Lenders and arrangers
- Bank of America, N.A., administrative agent
- Country
- United States
Parties
- AeroVironment borrower or issuer
- Lenders: Bank of America
Similar financings
| Date | Financing | Type | Amount |
|---|---|---|---|
| 30 Oct 2024 | CACI International US$750m term loan B for the Azure Summit acquisition | Acquisition finance | US$750m |
| 27 Sep 2024 | Amentum US$1,000m 7.250% senior notes due 2032 | Acquisition finance | US$1bn |
| 27 Sep 2024 | Amentum US$4.6bn credit facilities for the Jacobs government services combination | Acquisition finance | US$4.6bn |
| 9 Mar 2026 | CACI International US$800m incremental term B-2 loans for the ARKA acquisition | Acquisition finance | US$800m |
| 26 Aug 2026 | Karman Space & Defense US$100m incremental term loan for Walker Precision | Acquisition finance | US$100m |
More from AeroVironment
| Date | Financing | Type | Amount |
|---|---|---|---|
| 3 Jul 2025 | AeroVironment US$747.5m 0% convertible senior notes due 2030 | Convertible | US$747.5m |
| 4 Oct 2024 | AeroVironment US$200m revolving credit facility (2024) | Bank facility | US$200m |
| 19 Feb 2021 | AeroVironment US$300m credit facilities for the Arcturus UAV acquisition | Acquisition finance | US$300m |
M&A and investment involving AeroVironment
| Date | Deal | Type | Value |
|---|---|---|---|
| 1 May 2025 | AeroVironment acquisition of BlueHalo | M&A | US$4.1bn |
| 22 Feb 2021 | AeroVironment acquisition of Arcturus UAV | M&A | US$405m |
Sources
- AeroVironment Form 8-K: fourth amendment to credit agreement (BlueHalo) sec.gov · 1 May 2025
About this record
Record DEF-2025-0031, taken from an issuer, lender or government announcement. Confirmed against the primary documents listed. Amounts are as announced; US$ equivalents use approximate annual average exchange rates. Spotted an error or have a document we have missed? Send a correction, and changes are logged on Updates and corrections.
Read the structure
Acquisition debt is committed before signing, often as a bridge, and refinanced with bonds or term loans once the deal closes.
