Northrop Grumman US$2.5bn revolving credit facility (2022)
Support the commercial paper programme and general corporate purposes; replaces the 2018 US$2bn facility
Key terms
- Borrower or issuer
- Northrop Grumman
- Date
- 23 Aug 2022
- Type
- Bank facility
- Amount
- US$2.5bn
Recorded terms
- Structure
- Five-year senior unsecured revolving credit facility, guaranteed by Northrop Grumman Systems Corporation; debt to capitalisation covenant of 65%
- Lenders and arrangers
- JPMorgan Chase Bank, N.A., administrative agent
- Country
- United States
Parties
- Northrop Grumman borrower or issuer
- Lenders: J.P. Morgan
Similar financings
| Date | Financing | Type | Amount |
|---|---|---|---|
| 24 Aug 2022 | Lockheed Martin US$3.0bn revolving credit facility (2022) | Bank facility | US$3bn |
| 7 Sep 2022 | Booz Allen Hamilton US$2.65bn term loan A and revolver refinancing (2022) | Bank facility | US$2.65bn |
| 14 Sep 2022 | Parsons US$350m delayed-draw term loan (2022) | Bank facility | US$350m |
| 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 |
More from Northrop Grumman
| Date | Financing | Type | Amount |
|---|---|---|---|
| 2 Sep 2025 | Northrop Grumman US$3bn revolving credit facility (2025) | Bank facility | US$3bn |
| 28 May 2025 | Northrop Grumman US$1,000m senior notes (2 tranches) | Bond | US$1bn |
| 31 Jan 2024 | Northrop Grumman US$2,500m senior notes (3 tranches) | Bond | US$2.5bn |
| 7 Feb 2023 | Northrop Grumman US$2,000m senior notes (2 tranches) | Bond | US$2bn |
| 23 Mar 2020 | Northrop Grumman US$2,250m senior notes (3 tranches) | Bond | US$2.25bn |
| 17 Aug 2018 | Northrop Grumman US$2bn revolving credit facility (2018) | Bank facility | US$2bn |
M&A and investment involving Northrop Grumman
| Date | Deal | Type | Value |
|---|---|---|---|
| 1 Feb 2021 | Veritas Capital (Peraton) acquisition of Northrop Grumman IT and mission support services | M&A | US$3.4bn |
| 6 Jun 2018 | Northrop Grumman acquisition of Orbital ATK | M&A | US$9.2bn |
Sources
- Northrop Grumman Form 8-K: credit agreement sec.gov · 23 Aug 2022
About this record
Record DEF-2022-0017, taken from an issuer, lender or government announcement. Confirmed against the primary documents listed. Amounts are as announced; US$ 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.
