L3Harris Technologies establishes $1.5 billion 364-day revolver

By Wendy Van Sickle

Columbus, Ohio, Jan. 31 – L3Harris Technologies established a $1.5 billion 364-day senior revolving credit facility on Jan. 26, according to an 8-K filing with the Securities and Exchange Commission.

JPMorgan Chase Bank, NA was the administrative agent.

The credit facility replaces the prior $2.4 billion revolver dated March 10, 2023, which was due to terminate on March 8.

Interest will be SOFR plus a 10 basis points credit spread adjustment and a margin of 100 bps to 175 bps. The initial margin is 112.5 bps, with variations based on the company’s ratings.

An unused commitment fee will be between 9 bps and 25 bps. Initially, the commitment fee is 11 bps.

Bank of America, NA, U.S. Bank NA, Wells Fargo Bank, NA, Toronto-Dominion Bank, New York Branch, Mizuho Bank, Ltd., Sumitomo Mitsui Banking Corp. and Bank of Nova Scotia are the co-syndication agents.

JPMorgan Chase Bank, NA, BofA Securities, Inc., U.S. Bank NA, Wells Fargo Securities, LLC, TD Securities (USA) LLC, Mizuho Bank, Ltd., Sumitomo Mitsui Banking Corp. and Bank of Nova Scotia are the joint lead arrangers and bookrunners.

L3Harris is a Melbourne, Fla.-based aerospace and defense technology company. Aerojet is an El Segundo, Calif.-based aerospace and defense company.

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