AMTM · Amentum Holdings, Inc.

Amentum Holdings, Inc. entered into a First Amendment to its existing Credit Agreement, significantly refinancing its debt structure. The amendment establishes three new facilities: a $1.400 billion term loan A, a $1.591 billion term loan B, and a $1.000 billion revolving credit facility, all maturing in 2031. The proceeds were used to repay all outstanding borrowings under the prior credit agreement, effectively extending maturities and improving financial flexibility. The term loan A and revolving facility carry interest rates based on SOFR plus a margin that varies with Amentum's first lien leverage ratio, while the term loan B has a fixed margin. Notably, the term loan B has no financial maintenance covenants, reducing compliance risk, whereas the term loan A and revolving facility require a maximum first lien net leverage ratio of 4.50x (stepping to 5.00x after certain acquisitions). The facilities are secured by substantially all assets of Amentum and its material domestic subsidiaries. This refinancing provides Amentum with a more flexible capital structure, lower near-term amortization, and access to a larger revolving credit line for general corporate purposes, positioning the company for potential growth initiatives.