8-KMaterial AgreementsExhibits & Filings

LOCKHEED MARTIN CORP 8-K Report, Material Agreement (Aug 24, 2023)

Filed August 24, 2023For Securities:LMT

Summary

Lockheed Martin Corporation (LMT) announced on August 23, 2023, that it has entered into an Amendment to its existing $3.0 billion Revolving Credit Agreement. This amendment effectively extends the maturity date of the credit facility by one year, pushing it from August 24, 2027, to August 24, 2028. This extension provides the company with continued financial flexibility and reinforces its strong relationships with its syndicate of lenders. The core terms and conditions of the original credit agreement remain unchanged, indicating a stable and well-understood financing structure. This proactive measure to secure longer-term access to capital is a positive signal to investors, demonstrating prudent financial management and a commitment to maintaining a robust liquidity position. The company has also attached the Extension Agreement as an exhibit to the filing.

Key Highlights

  • 1Lockheed Martin amended its $3.0 billion Revolving Credit Agreement.
  • 2The amendment effectively extends the maturity date of the credit facility by one year.
  • 3The new maturity date is August 24, 2028, extended from August 24, 2027.
  • 4All other terms and conditions of the original Credit Agreement remain unchanged.
  • 5The amendment ensures continued access to a significant line of credit, demonstrating financial stability.
  • 6The filing was made on August 23, 2023, with the amendment effective August 24, 2023.
  • 7The Extension Agreement is filed as an exhibit to the 8-K.

Frequently Asked Questions

The main purpose of this 8-K filing is to announce that Lockheed Martin Corporation has entered into an amendment to its $3.0 billion Revolving Credit Agreement. This amendment extends the maturity date of the credit facility by one year.

The amendment extends the maturity date of the credit facility to August 24, 2028. This provides Lockheed Martin with continued access to $3.0 billion in credit for an extended period, reinforcing its liquidity and financial flexibility. The extension signals confidence from lenders and prudent financial management by the company.

No, the filing explicitly states that all other terms and conditions of the original Credit Agreement remain in full force and effect. Only the maturity date has been extended.

The key parties include Lockheed Martin Corporation as the borrower, a syndicate of lenders, JPMorgan Chase Bank, N.A. as syndication agent, Citibank, N.A., Crédit Agricole Corporate and Investment Bank, Mizuho Bank, Ltd., and Wells Fargo Bank, National Association as documentation agents, and Bank of America, N.A. as the administrative agent.