BWX Technologies closed on an amended and restated credit agreement with Wells Fargo Bank and other lenders that increases the company’s liquidity while improving a number of key terms for BWXT.

The amended and restated credit agreement, among other things, provides for a new $250 million Term A Loan that matures Oct. 12, 2027, which the company used to repay outstanding borrowings under its existing $750 million Revolving Credit Facility, extends the maturity date of the existing $750 million Revolving Credit Facility by approximately 2 1/2 years to Oct. 12, 2027, and modifies the leverage-based calculations and covenants under the amended and restated credit agreement to allow for the netting of up to $100 million in cash and cash equivalents.

“Securing this financing agreement is an important step for BWXT, and we appreciate our banks working closely with us to deliver the additional and extended commitments in today’s unique market environment,” said Robb LeMasters, senior vice president and chief financial officer. “The amended and restated credit agreement provides us with incremental liquidity and an extended debt maturity profile, as well as other improvements to key terms of our credit facility that will continue to provide balance sheet flexibility to support the funding of potential opportunities to create value for BWXT.”