Kaman has closed on an amended $800 million credit facility. JPMorgan Chase Bank, Bank of America Securities and Citizens Bank served as joint bookrunners and joint lead arrangers.

The new credit facility amends the company’s prior credit facility to, among other things: extend the maturity date to December 2024; increase the aggregate amount of revolving commitments from $600 million to $800 million; modify the affirmative and negative covenants set forth in the facility; and modify a number of terms and provisions of the facility, including its pricing.

The amended and restated facility is collateralized by the company’s tangible and intangible personal property and other assets (excluding real estate), including the stock and assets of its material domestic subsidiaries that are guarantors of the facility, and includes a typical financial covenant package, which the company believes reflects current market terms and conditions.

The facility includes an accordion feature that allows the company to increase the aggregate amount available to up to $1 billion with additional commitments from the lenders.

“We are pleased with the strong support of our lenders and welcome a number of new banks to our lending group. The amended and restated credit facility provides us with increased flexibility and liquidity to execute our long-term growth strategy,” said Executive Vice President and Chief Financial Officer, Robert D. Starr.

Kaman, founded in 1945 by aviation pioneer Charles H. Kaman, and headquartered in Bloomfield, CT, conducts business in the aerospace & defense, industrial and medical markets.