CURTISS WRIGHT CORP 8-K

What Happened

• Curtiss-Wright Corporation announced on May 19, 2026 that it entered into a new syndicated $1.0 billion revolving credit facility (the Credit Facility) with lenders led by JPMorgan Chase Bank, N.A. as administrative agent. The Credit Facility matures on May 19, 2031 and replaces the Company’s prior $750 million revolving facility (entered May 17, 2022) that was terminated concurrently; no early termination fees were incurred. The facility is guaranteed by certain subsidiaries and may be used for general corporate purposes, including potential acquisitions and growth initiatives.

Key Details

• Size & term: $1.0 billion revolver maturing May 19, 2031; replaces $750 million facility that would have matured May 17, 2027.
• Letters of credit: Up to $200 million of the capacity may be used for letters of credit; existing letters of credit under the old facility remain outstanding and are deemed issued under the new facility.
• Incremental capacity: Company may add incremental term loans or increase revolving commitments up to an additional $500 million (subject to lender participation).
• Pricing & borrowing options: Borrowings can be in U.S. dollars or certain foreign currencies and elected as various rate types (Term Benchmark, Base Rate/Swing Line, RFR, or Adjusted Daily Term SOFR); applicable spreads depend on Curtiss‑Wright’s consolidated leverage ratio (margins referenced in the agreement range roughly 0%–1.225% above benchmarks).

Why It Matters

• The new facility increases liquidity and extends debt maturities (longer tenor versus the prior revolver), giving the company greater flexibility for working capital, growth initiatives, or acquisitions.
• The agreement includes customary covenants and financial tests (consolidated interest coverage and leverage ratios); failure to comply could trigger lender remedies such as acceleration or collateralization of letters of credit. Investors should note improved capacity and maturity but monitor covenant metrics in future filings.