Lockheed Martin has entered into a new $2.25 billion unsecured revolving credit facility and extended the maturity of an existing $3 billion revolving facility, giving the defense contractor $5.25 billion of committed revolving credit capacity across the two agreements.
The new $2.25 billion facility has a 364-day term and was entered into on August 24, 2026.
Bank of America serves as Administrative Agent, while JPMorgan Chase is Syndication Agent.
Citibank, Crédit Agricole Corporate and Investment Bank, Mizuho Bank and Wells Fargo serve as Documentation Agents.
The $2.25 billion facility replaces a prior 364-day revolving agreement entered into in December 2025.
Lockheed Martin incurred no early termination penalties when replacing that agreement.
The new facility can be used for lawful corporate purposes, including supporting commercial paper borrowings.
Importantly, Lockheed Martin did not borrow any money under the new facility at closing.
The agreement matures August 23, 2027.
Lockheed Martin has the option, subject to a 0.50% fee on the amount converted, to continue some or all outstanding borrowings as non-revolving term loans for an additional year through August 23, 2028.
Interest can be based on several structures, including Term SOFR or Daily Simple SOFR.
The Term SOFR margin ranges from 0.585% to 1.085% depending on Lockheed Martin’s senior unsecured long-term credit ratings.
The facility also carries a quarterly fee of 0.04% of aggregate commitments and does not include a financial maintenance covenant.
Separately, Lockheed Martin extended its existing $3 billion five-year revolving credit agreement by one year.
The facility, originally entered into in August 2022, will now expire on August 24, 2031 instead of August 24, 2030. Other terms remain in effect.
The combination gives Lockheed Martin substantial committed liquidity while extending the maturity profile of its longer-term revolving credit arrangement.
