Summary
Lockheed Martin Corporation (LMT) filed an 8-K report on October 10, 2017, to disclose an amendment to its material definitive agreement. Specifically, the company entered into an Extension Agreement that amends its existing $2.5 billion Five-Year Credit Agreement, originally dated October 9, 2015. This amendment effectively extends the expiration date of the credit facility by one year, from October 9, 2021, to October 9, 2022. This extension of the credit agreement provides Lockheed Martin with continued financial flexibility and access to capital through at least October 2022. The primary impact for investors is the confirmation of a stable, long-term financing arrangement, which can be crucial for managing large-scale projects and potential capital expenditures. All other terms and conditions of the original credit agreement remain unchanged, indicating no significant shifts in the company's borrowing terms or covenants.
Key Highlights
- 1Lockheed Martin amended its $2.5 billion Five-Year Credit Agreement.
- 2The expiration date of the credit agreement has been extended by one year.
- 3The new expiration date is October 9, 2022, extended from October 9, 2021.
- 4The amendment was effective as of October 9, 2017.
- 5All other terms and conditions of the original credit agreement remain in full force.
- 6The amendment ensures continued access to a significant credit facility for the company.
- 7This filing confirms proactive financial management regarding its debt structure.