RTX Corp (RTX): debt financing — RTX enters $4B term loan facility and issues $6B in notes to refinance existing bridge debt

RTX Corp

$2B 18-month term loan and $2B 3-year term loan fully drawn on Nov 7, 2023.
Issued $6B in notes: $1.25B 5.75% due 2026, $0.5B 5.75% due 2029, $1B 6.00% due 2031, $1.5B 6.10% due 2034, $1.75B 6.40% due 2054.
Proceeds used to repay Oct 2023 bridge credit agreement and pay fees/expenses.
Term loan interest: SOFR + 100-137.5 bps or base rate + 0-37.5 bps based on credit ratings.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

RTX Corp incurred credit facility of $2.0 billion 18-month unsecured unsubordinated term loan facility and a $2.0 billion 3-year unsecured unsubordinated ter with Citibank, N.A., as administrative agent, and the lenders party thereto at alternate base rate or the term Secured Overnight Financing Rate ("SOFR"), in ea maturing 18-month.

Instrument: credit facility
Principal: $2.0 billion 18-month unsecured unsubordinated term loan facility and a $2.0 billion 3-year unsecured unsubordinated ter
Counterparty: Citibank, N.A., as administrative agent, and the lenders party thereto
Rate: alternate base rate or the term Secured Overnight Financing Rate ("SOFR"), in ea
Maturity: 18-month
Event: incurrence

Exact text from the filing

The Term Loan Credit Agreement provides for a $2.0 billion 18-month unsecured unsubordinated term loan facility and a $2.0 billion 3-year unsecured unsubordinated term loan facility.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.99

RTX Corp entered into Term Loan Credit Agreement with Citibank, N.A., Goldman Sachs Lending Partners LLC, BofA Securities, Inc., JPMorgan Chase Bank, N.A. and Morgan Stanley Senior Funding, Inc. valued at $4,000,000,000 aggregate term loan facilities ($2.0 billion 18-month and $2.0 billion 3-year) (effective 2023-11-07).

Action: entry
Agreement: credit facility
Counterparty: Citibank, N.A., Goldman Sachs Lending Partners LLC, BofA Securities, Inc., JPMorgan Chase Bank, N.A. and Morgan Stanley Senior Funding, Inc.
Value: $4,000,000,000 aggregate term loan facilities ($2.0 billion 18-month and $2.0 billion 3-year)
Effective: 2023-11-07

Exact text from the filing

On November 7, 2023, RTX Corporation (the “Company”), as borrower, entered into that certain Term Loan Credit Agreement (the “Term Loan Credit Agreement”) with Citibank, N.A., as administrative agent, and the lenders party thereto

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RTX Corp filing history →

Source: SEC EDGAR

accession 0001140361-23-052089

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