AeroVironment expands revolving credit commitments to $450 million
AeroVironment entered a Sixth Amendment to its credit agreement that increased aggregate revolving commitments by $100 million, from $350 million to $450 million. After the amendment, the revolver includes a $150 million letter-of-credit sublimit and a $10 million swingline sublimit, continues to mature on October 4, 2029, and remains secured by substantially all assets of AeroVironment and its guarantor subsidiaries. The amendment also provides for bilateral letters of credit and certain cash-collateralized let...
Key takeaways
AeroVironment increased aggregate revolving commitments by $100 million, from $350 million to $450 million.
The revolving facility retains its October 4, 2029 maturity and remains secured by substantially all assets of AeroVironment and its guarantors.
The $150 million letter-of-credit sublimit and $10 million swingline sublimit are included within, rather than added to, the revolving facility.
BMO Bank N.A. entered as a new lender, and the amendment reallocated commitments without constituting a novation of the existing credit agreement.
The amended facility permits bilateral letters of credit and certain cash-collateralized letters of credit for deposit obligations, subject to the amended agreement's terms and conditions.
AeroVironment plans to include the Sixth Amendment as an exhibit to its Form 10-Q for the fiscal quarter ending October 31, 2026.
Key metrics
Primary source
TickerStar generated this brief from an official company, investor-relations, earnings-call, or regulatory source. Review the primary material before making an investment decision.
Open SEC filingFollow AVAV in real time
Get material earnings, filing, IR, and earnings-call alerts by email.