---
schema_version: "secwatch.filing_event.v1"
accession: "0001833756-26-000007"
form_type: "8-K"
ticker: "DRS"
cik: "0001833756"
company_name: "Leonardo DRS, Inc."
filed_at: "2026-01-28T23:59:59+00:00"
generated_at: "2026-05-16T07:05:52.078098+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Leonardo DRS enters $500M revolving credit facility, replaces prior credit agreement

## Summary
- Five-year $500M senior unsecured revolving credit facility with JPMorgan; initial SOFR margin 1.250%.
- Replaces Nov 2022 credit agreement; no borrowings outstanding at termination, no penalties incurred.
- Proceeds may be used for working capital, general corporate purposes, and share repurchases.
- Covenants: max total net leverage 3.75:1 (4.00:1 for material acquisitions) and min net interest coverage 3.00:1.
- Certain U.S. subsidiaries guarantee the obligations.

## SEC filing metadata
- accession: 0001833756-26-000007
- form_type: 8-K
- ticker: DRS
- cik: 0001833756
- company_name: Leonardo DRS, Inc.
- filed_at: 2026-01-28T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1833756/000183375626000007/0001833756-26-000007-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1833756/000183375626000007/drs-20260128.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001833756-26-000007
- JSON: https://secwatch.observer/filing/0001833756-26-000007.json
- Plain text: https://secwatch.observer/filing/0001833756-26-000007.txt

## Key facts
- Debt Financings
  Leonardo DRS, Inc. incurred revolving credit of $500 million with JPMorgan Chase Bank, N.A. at Term SOFR plus 1.250% to 1.625% maturing five years.
  - Instrument: revolving credit
  - Principal: $500 million
  - Counterparty: JPMorgan Chase Bank, N.A.
  - Rate: Term SOFR plus 1.250% to 1.625%
  - Maturity: five years
  - Event: incurrence
  source text: The Credit Agreement provides for a five-year senior unsecured $500 million revolving credit facility
  evidence_url: https://www.sec.gov/Archives/edgar/data/1833756/000183375626000007/0001833756-26-000007-index.htm
- Material Agreements
  Leonardo DRS, Inc. terminated Old Credit Agreement with Bank of America, N.A., as administrative agent, Swing Line Lender and L/C Issuer, the Guarantors, and the other lenders party thereto (effective 2026-01-28).
  - Action: termination
  - Agreement: credit facility
  - Counterparty: Bank of America, N.A., as administrative agent, Swing Line Lender and L/C Issuer, the Guarantors, and the other lenders party thereto
  - Effective: 2026-01-28
  source text: the Company terminated its existing credit agreement, dated as of November 29, 2022, with Bank of America, N.A., as administrative agent, Swing Line Lender and L/C Issuer, the Guarantors, and the other lenders party thereto (the “Old Credit Agreement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1833756/000183375626000007/0001833756-26-000007-index.htm
- Material Agreements
  Leonardo DRS, Inc. entered into Credit Agreement with JPMorgan Chase Bank, N.A., as Administrative Agent and Swing Line Lender, and the other lenders party thereto valued at $500 million (effective 2026-01-28).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: JPMorgan Chase Bank, N.A., as Administrative Agent and Swing Line Lender, and the other lenders party thereto
  - Value: $500 million
  - Effective: 2026-01-28
  source text: On January 28, 2026, Leonardo DRS, Inc., a Delaware corporation (the “Company”), and certain direct and indirect U.S. subsidiaries of the Company (the “Guarantors”) entered into a credit agreement (the “Credit Agreement”) by and among the Company, as borrower, the Guarantors, JPMorgan Chase Bank, N.A. (“JPMorgan”), as Administrative Agent and Swing Line Lender, and the other lenders party thereto.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1833756/000183375626000007/0001833756-26-000007-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.