Raytheon Co. entered into a new credit agreement with lenders for a $1.25 billion revolving facility, with a $500 million letter of credit sublimit.
The new credit facility extends the maturity date under the company's prior credit facility to Nov. 15, 2021, from Nov. 13, 2020. Raytheon terminated its previous five-year credit agreement early without penalty.
Bank of America NA and Citibank NA served as syndication agents. Barclays Bank PLC, Credit Suisse AG's Cayman Islands branch, Deutsche Bank Securities Inc. and Morgan Stanley MUFG Loan Partners LLC acted as documentation agents, while JPMorgan Chase Bank NA served as administrative agent.
JPMorgan Chase Bank NA, BofA Securities Inc. and Citibank NA acted as joint lead arrangers and joint book runners.
