Woodward signs $1 billion revolving credit deal and borrows $250 million term loan
Woodward entered a Third Amended and Restated Credit Agreement that keeps up to $1 billion of revolving commitments and extends their termination date from October 21, 2027 to May 28, 2031. On the same day it also entered a $250 million term loan maturing May 28, 2031, and borrowed $413 million under the revolver and the full $250 million under the term loan. Shareholders should note the higher borrowing, which carries a maximum leverage ratio covenant and default acceleration terms.
Key points
- Revolving commitments of up to $1 billion extended from October 21, 2027 to May 28, 2031
- $413 million revolver borrowing on May 28, 2026, used with cash on hand to repay the existing revolving credit agreement and pay fees
- $250 million term loan borrowed May 28, 2026, for working capital and general corporate purposes, maturing May 28, 2031
- Loans bear interest at adjusted term SOFR plus 0.875% to 1.75%, and both agreements include a maximum leverage ratio covenant
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 12:42 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 May 28, 2026.
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.