8-KMaterial AgreementsExhibits & Filings

LOCKHEED MARTIN CORP 8-K Report, Material Agreement (Oct 10, 2017)

Filed October 10, 2017For Securities:LMT

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.

Frequently Asked Questions

The main purpose of this 8-K filing is to announce an amendment to Lockheed Martin's existing $2.5 billion credit agreement, specifically extending its maturity date by one year.

The extension enhances Lockheed Martin's financial flexibility by ensuring continued access to its $2.5 billion credit facility for an additional year, through October 2022. This provides a stable source of funding for its operations and potential investments.

No, the filing explicitly states that all other terms and conditions of the original $2.5 billion Five-Year Credit Agreement remain in full force and effect. Only the expiration date has been modified.

This filing does not indicate any new borrowing or an increase in the total amount of the credit facility. It is purely an extension of the existing agreement's maturity date, providing continuity rather than new debt issuance.