Textron US$500m 364-day term loan (2020)
Liquidity during the Covid-19 market disruption; general corporate purposes
Key terms
- Borrower or issuer
- Textron
- Date
- 1 Apr 2020
- Type
- Bank facility
- Amount
- US$500m
- Maturity
- 2021-03-31
Recorded terms
- Structure
- 364-day term loan, fully drawn on 2 April 2020
- Lenders and arrangers
- JPMorgan Chase Bank, N.A. (administrative agent), Sumitomo Mitsui Banking Corporation (syndication agent), Bank of America, N.A. and Citibank, N.A. (documentation agents)
- Country
- United States
Parties
- Textron borrower or issuer
- Lenders: Bank of America, Citigroup, J.P. Morgan, SMBC Group
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|---|---|---|---|
| 26 Mar 2020 | Saab SEK 4bn revolving credit facility (2020) | Bank facility | SEK 4bn |
| 12 Feb 2020 | Leidos US$1.0bn delayed-draw term loan for the L3Harris security detection acquisition | Bank facility | US$1bn |
| 7 Feb 2020 | KBR US$1.795bn senior secured credit facilities refinancing | Bank facility | US$1.79bn |
| 17 Jan 2020 | Leidos US$2.68bn unsecured term loan A and revolver (2020) | Bank facility | US$2.67bn |
| 20 Dec 2019 | Ducommun US$140m senior secured term loan A | Bank facility | US$140m |
More from Textron
| Date | Financing | Type | Amount |
|---|---|---|---|
| 29 Oct 2025 | Textron US$500m senior notes (1 tranche) | Bond | US$500m |
| 16 Oct 2025 | Textron US$1.0bn revolving credit facility (2025) | Bank facility | US$1bn |
| 11 Feb 2025 | Textron US$500m senior notes (1 tranche) | Bond | US$500m |
| 8 Nov 2023 | Textron US$350m senior notes (1 tranche) | Bond | US$350m |
| 4 Aug 2020 | Textron US$500m senior notes (1 tranche) | Bond | US$500m |
| 11 Mar 2020 | Textron US$650m 3.0% notes due 2030 | Bond | US$650m |
Sources
- Textron Form 8-K (364-Day Term Loan Credit Agreement) sec.gov · 2 Apr 2020
About this record
Record DEF-2020-0034, taken from an issuer, lender or government announcement. Confirmed against the primary documents listed. Amounts are as announced; US$ 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.
