Summary
Northrop Grumman Corporation (NOC) has filed an 8-K report detailing an amendment to its existing credit facility. On August 10, 2007, the company entered into an Amended and Restated Credit Agreement, which extends the maturity date of its $2 billion five-year credit facility from August 5, 2010, to August 10, 2012. This extension provides the company with a longer-term liquidity runway, enhancing its financial flexibility.
Key Highlights
- 1Northrop Grumman amended and restated its $2 billion credit agreement.
- 2The maturity date of the credit facility was extended by two years, from August 5, 2010, to August 10, 2012.
- 3The amendment enhances pricing terms, reducing facility fees.
- 4The agreement ensures full availability of the facility for letters of credit, supporting operational needs.
- 5Key financial institutions including JPMorgan Chase Bank, Credit Suisse, and Citicorp are involved as agents.
- 6The amendment aims to improve the company's financial flexibility and liquidity.
Frequently Asked Questions
The primary purpose of this 8-K filing is to announce that Northrop Grumman Corporation has entered into an Amended and Restated Credit Agreement, which modifies its existing $2 billion credit facility.
The amendment extends the maturity date of the $2 billion credit facility by two years, from August 5, 2010, to August 10, 2012. It also includes improved pricing terms and reduced facility fees.
Extending the maturity date provides Northrop Grumman with greater financial flexibility and a longer period of assured access to capital, which can be crucial for ongoing operations, strategic investments, and managing financial obligations.
The agreement involves Northrop Grumman Corporation as the Borrower, Northrop Grumman Systems Corporation and Northrop Grumman Space & Mission Systems Corp. as Guarantors, and a syndicate of Lenders. JPMorgan Chase Bank, N.A. and Credit Suisse are among the key administrative agents involved.