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Lockheed Announces New $1.5B Credit Line

Lockheed Martin (NYSE: LMT) has entered into a new $1.5 billion unsecured revolving credit facility with banks led by JP Morgan Chase Bank N.A.

Lockheed can seek additional loans equaling up to $2 billion over the course of the agreement, with no individual loan exceeding $500, 000.

The agreement will valid through Aug. 25, 2016 with provisions for one-year renewals.

The deal cancels an existing agreement.

Other lenders include Bank of America, Citibank N.A.,  Royal Bank of Scotland plc and Wells Fargo Bank N.A.

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