Loan & DebtMay 20, 2026, 04:47 PM
Curtiss-Wright Secures New $1B Revolving Credit Facility
AI Summary
Curtiss-Wright Corporation announced it has secured a new $1 billion revolving credit facility, replacing its previous $750 million facility. The new agreement, which matures in May 2031, enhances the company's financial flexibility and expands its accordion feature to $500 million. This facility will support general corporate purposes, including potential future acquisitions and internal growth initiatives, aligning with the company's "Pivot to Growth" strategy.
Key Highlights
- Curtiss-Wright entered into a new $1 billion revolving credit facility.
- The new facility matures on May 19, 2031, a five-year term.
- It replaces the existing $750 million revolving credit facility, which was set to mature in May 2027.
- The accordion feature for incremental term loans or increased commitments was expanded to $500 million.
- The facility will be used for general corporate purposes, including future acquisitions and internal growth initiatives.
- No early termination penalties were incurred for the prior credit facility.
- Borrowings are subject to customary conditions and can be denominated in U.S. dollars or certain foreign currencies.
- Interest rates vary based on Term Benchmark, Base Rate, RFR, or Adjusted Daily Term SOFR, plus an Applicable Rate.
Price Impact
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