Motorola Solutions entered into a new revolving credit agreement with JPMorgan Chase Bank as administrative agent.

The new credit agreement provides for a $2.2 billion revolving credit facility with a $500 million letter of credit sublimit and matures on April 24, 2022, subject to the company’s option to extend the maturity date for up to two one-year periods upon the terms and conditions set forth in the new credit agreement.

In addition, the company has the ability at any time to increase the aggregate commitments from $2.2 billion to $2.75 billion by arranging with existing lenders and/or new lenders for them to provide additional commitments, subject to the condition that no default or event of default shall have occurred and be continuing.

The new agreement permits the company to borrow syndicated loans and money market loans from time to time for general corporate purposes.

Syndicated loans bear interest at a rate per annum equal to the base rate as in effect from time to time plus the applicable margin based on the company’s corporate credit rating or the eurodollar rate for the interest period therefore plus the applicable margin.