Textron signs $1.0 billion revolving credit facility, replacing its 2022 credit agreement
Textron entered a $1.0 billion senior unsecured revolving credit facility on October 16, 2025, with JPMorgan Chase Bank, N.A. as administrative agent. The filing says the new facility replaces the existing 5-year credit agreement, which was terminated early, and that its terms are substantially the same as the facility it replaces.
Key points
- Facility size is $1.0 billion, with an option to increase commitments to up to $1.3 billion, and runs to October 16, 2030, subject to up to two one-year extensions.
- The facility replaces the 2022 5-year credit agreement, which was scheduled to expire October 21, 2027.
- At Textron's current S&P and Moody's ratings (BBB and Baa2), the Base Rate Margin is 14 basis points and the quarterly facility fee is 11 basis points.
- Covenants include a maximum 65% ratio of consolidated indebtedness to consolidated capitalization, and a change of control triggers an event of default.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:12 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 20, 2025.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.