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31 defence financings on file (14 as co-manager, 8 as bookrunner, 6 as bookrunner/arranger, 3 as lender), about US$29.4bn of deals led.

Borrowers and issuers: RTX (Raytheon Technologies), Lockheed Martin, Northrop Grumman, Leonardo, Thales, Rheinmetall.

Financings

DateFinancingTypeAmount
20 Aug 2026Thales €1bn bond to finance the Exail acquisitionBond€1bn
28 May 2026Rheinmetall €500m senior bond due 2031Bond€500m
28 May 2025Northrop Grumman US$1,000m senior notes (2 tranches)BondUS$1bn
5 Dec 2024Lockheed Martin US$1,000m senior notes (2 tranches)BondUS$1bn
31 Jan 2024Northrop Grumman US$2,500m senior notes (3 tranches)BondUS$2.5bn
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
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
7 Feb 2023Northrop Grumman US$2,000m senior notes (2 tranches)BondUS$2bn
20 Oct 2022Lockheed Martin US$4,000m senior notes (5 tranches)BondUS$4bn
22 Apr 2022Lockheed Martin US$2,300m senior notes (3 tranches)BondUS$2.3bn
20 Dec 2021Leonardo €600m ESG-linked term loanBank facility€600m
3 Nov 2021RTX (Raytheon Technologies) US$2,100m senior notes (2 tranches)BondUS$2.1bn
7 Oct 2021Leonardo €2.4bn ESG-linked revolving credit facilityBank facility€2.4bn
24 Sep 2021Rheinmetall €500m syndicated revolving credit facilityBank facility€500m
6 Aug 2021RTX (Raytheon Technologies) US$2,000m senior notes (2 tranches)BondUS$2bn
19 Nov 2020Thales €500m 0% bond due 2026Bond€500m
1 Jul 2020Leonardo €500m 2.375% Eurobond due 2026Bond€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
7 May 2020Thales €700m 1% bond due 2028Bond€700m
23 Mar 2020Northrop Grumman US$2,250m senior notes (3 tranches)BondUS$2.25bn
15 Aug 2018RTX (Raytheon Technologies) US$11,000m senior notes (7 tranches)BondUS$11bn
12 Oct 2017Northrop Grumman US$8,250m senior notes (5 tranches)BondUS$8.25bn
Jun 2017Leonardo €600m 1.50% Eurobond due 2024Bond€600m
3 May 2017RTX (Raytheon Technologies) US$4,000m senior notes (5 tranches)BondUS$4bn
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
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

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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