Lockheed Martin US$3.0bn revolving credit facility (2022)
General corporate purposes, including backing commercial paper
Key terms
- Borrower or issuer
- Lockheed Martin
- Date
- 24 Aug 2022
- Type
- Bank facility
- Amount
- US$3bn
- Maturity
- 2027
Recorded terms
- Structure
- Five-year unsecured revolving credit facility with a US$500m accordion, replacing the 2021 facility
- Lenders and arrangers
- Bank of America, N.A. (administrative agent); JPMorgan Chase Bank (syndication agent); Citibank, Crédit Agricole CIB, Mizuho, Wells Fargo (documentation agents)
- Country
- United States
Parties
- Lockheed Martin borrower or issuer
- Agent: Wells Fargo, Bank of America
- Lenders: Citigroup, J.P. Morgan, Credit Agricole CIB, Mizuho
Similar financings
| Date | Financing | Type | Amount |
|---|---|---|---|
| 29 Jul 2022 | L3Harris US$2bn five-year revolving credit facility (2022) | Bank facility | US$2bn |
| 12 Oct 2022 | BWX Technologies US$1.0bn secured credit facility (2022) | Bank facility | US$1bn |
| 30 Jun 2022 | SAIC US$1.23bn term facility and US$1bn revolver (2022) | Bank facility | US$2.23bn |
| 28 Feb 2022 | Mercury Systems US$1.1bn revolving credit facility (upsized) | Bank facility | US$1.1bn |
| 18 Feb 2022 | Kratos US$400m secured credit facility | Bank facility | US$400m |
More from Lockheed Martin
| Date | Financing | Type | Amount |
|---|---|---|---|
| 24 Jul 2025 | Lockheed Martin US$2,000m senior notes (3 tranches) | Bond | US$2bn |
| 5 Dec 2024 | Lockheed Martin US$1,000m senior notes (2 tranches) | Bond | US$1bn |
| 26 Jan 2024 | Lockheed Martin US$2,000m senior notes (3 tranches) | Bond | US$2bn |
| 24 May 2023 | Lockheed Martin US$2,000m senior notes (3 tranches) | Bond | US$2bn |
| 20 Oct 2022 | Lockheed Martin US$4,000m senior notes (5 tranches) | Bond | US$4bn |
| 22 Apr 2022 | Lockheed Martin US$2,300m senior notes (3 tranches) | Bond | US$2.3bn |
M&A and investment involving Lockheed Martin
| Date | Deal | Type | Value |
|---|---|---|---|
| 30 Oct 2024 | Lockheed Martin acquisition of Terran Orbital | M&A | US$450m |
| 13 Feb 2022 | Lockheed Martin acquisition of Aerojet Rocketdyne (terminated) | M&A Terminated | US$4.4bn |
| 16 Aug 2016 | Leidos combination with Lockheed Martin IS&GS | M&A | US$4.6bn |
| 6 Nov 2015 | Lockheed Martin acquisition of Sikorsky | M&A | US$9bn |
Sources
- Lockheed Martin Form 8-K sec.gov · 24 Aug 2022
About this record
Record DEF-2022-0007, taken from an issuer, lender or government announcement. Confirmed against the primary documents listed. Amounts are as announced; US$ 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
A revolving or term facility is a relationship loan from a bank group, priced at a margin over a reference rate, with financial covenants and an agent.
