InfraDefenceThe capital behind defence.
Bank

Citigroup

47 defence financings on file (37 as bookrunner, 4 as agent, 3 as lender, 2 as bookrunner/arranger, 1 as co-manager), about US$83.2bn of deals led.

Borrowers and issuers: Lockheed Martin, RTX (Raytheon Technologies), Textron, L3Harris Technologies, Leidos, Northrop Grumman, Science Applications International, Harris Corporation.

Financings

DateFinancingTypeAmount
20 Feb 2026Leidos US$1,400m senior notes (2 tranches)BondUS$1.4bn
24 Jul 2025Lockheed Martin US$2,000m senior notes (3 tranches)BondUS$2bn
18 Feb 2025Leidos US$1,000m senior notes (2 tranches)BondUS$1bn
11 Feb 2025Textron US$500m senior notes (1 tranche)BondUS$500m
5 Dec 2024Lockheed Martin US$1,000m senior notes (2 tranches)BondUS$1bn
31 Jul 2024L3Harris Technologies US$6,684m senior notes (8 tranches)BondUS$6.68bn
13 Mar 2024L3Harris Technologies US$750m senior notes (1 tranche)BondUS$750m
26 Jan 2024Lockheed Martin US$2,000m senior notes (3 tranches)BondUS$2bn
8 Nov 2023RTX (Raytheon Technologies) US$6,000m senior notes (5 tranches)BondUS$6bn
31 Oct 2023BGK US$1bn 6.25% notes due 2028 for the Armed Forces Support FundBondUS$1bn
24 May 2023Lockheed Martin US$2,000m senior notes (3 tranches)BondUS$2bn
27 Feb 2023RTX (Raytheon Technologies) US$3,000m senior notes (3 tranches)BondUS$3bn
17 Feb 2023Leidos US$750m 5.750% notes due 2033BondUS$750m
20 Oct 2022Lockheed Martin US$4,000m senior notes (5 tranches)BondUS$4bn
24 Aug 2022Lockheed Martin US$3.0bn revolving credit facility (2022)Bank facilityUS$3bn
30 Jun 2022SAIC US$1.23bn term facility and US$1bn revolver (2022)Bank facilityUS$2.23bn
22 Apr 2022Lockheed Martin US$2,300m senior notes (3 tranches)BondUS$2.3bn
3 Nov 2021RTX (Raytheon Technologies) US$2,100m senior notes (2 tranches)BondUS$2.1bn
24 Aug 2021Lockheed Martin US$3.0bn revolving credit facility (2021)Bank facilityUS$3bn
6 Aug 2021RTX (Raytheon Technologies) US$2,000m senior notes (2 tranches)BondUS$2bn
13 Nov 2020L3Harris Technologies US$650m 1.800% notes due 2031BondUS$650m
9 Oct 2020Leidos US$1,000m 2.300% notes due 2031BondUS$1bn
4 Aug 2020Textron US$500m senior notes (1 tranche)BondUS$500m
18 May 2020Lockheed Martin US$1,150m senior notes (2 tranches)BondUS$1.15bn
18 May 2020RTX (Raytheon Technologies) US$2,000m senior notes (2 tranches)BondUS$2bn
12 May 2020Leidos US$1,750m senior notes (3 tranches)BondUS$1.75bn
23 Mar 2020Northrop Grumman US$2,250m senior notes (3 tranches)BondUS$2.25bn
13 Nov 2019L3Harris US$400m 2.900% notes due 2029BondUS$400m
28 Jun 2019L3Harris US$2bn five-year revolving credit facilityBank facilityUS$2bn
1 May 2019Textron US$300m 3.900% notes due 2029BondUS$300m
31 Oct 2018SAIC US$2.1bn term loans for the Engility mergerAcquisition financeUS$2.12bn
24 Aug 2018Lockheed Martin US$2.5bn revolving credit facility (2018)Bank facilityUS$2.5bn
25 May 2018Harris Corporation US$850m 4.400% notes due 2028BondUS$850m
26 Feb 2018Harris Corporation US$300m floating rate notes due 2019BondUS$300m
12 Sep 2017Textron US$300m 3.375% notes due 2028BondUS$300m
Jun 2017Leonardo €600m 1.50% Eurobond due 2024Bond€600m
3 May 2017RTX (Raytheon Technologies) US$4,000m senior notes (5 tranches)BondUS$4bn
30 Mar 2017Rockwell Collins US$4,650m senior notes (5 tranches)BondUS$4.65bn
30 Nov 2016Northrop Grumman US$750m 3.200% senior notes due 2027BondUS$750m
31 Oct 2016RTX (Raytheon Technologies) US$4,000m senior notes (5 tranches)BondUS$4bn
30 Sep 2016Textron US$1.0bn revolving credit facility (2016)Bank facilityUS$1bn
7 Mar 2016Textron US$350m 4.000% notes due 2026BondUS$350m
17 Nov 2015Lockheed Martin US$7,000m senior notes (6 tranches)BondUS$7bn
1 May 2015RTX (Raytheon Technologies) US$850m 4.150% senior notes due 2045BondUS$850m
24 Apr 2015L3Harris Technologies US$2,400m senior notes (5 tranches)BondUS$2.4bn
13 Feb 2015Lockheed Martin US$2,250m senior notes (3 tranches)BondUS$2.25bn
4 Feb 2015Northrop Grumman US$600m 3.850% senior notes due 2045BondUS$600m

Roles come from the filings and announcements cited on each record. Volumes are full deal sizes, not this lender's share.

Randeep Bubbra
InfraDefence Weekly

The week in defence finance, read from the filings.

Deals, terms and the clauses behind them, for the people financing primes, mid-tiers and new defence technology. By Randeep Bubbra.

Working on a financing like this? Book 20 minutes with Randeep to see how it compares.

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