Woodward, Inc. entered into a new revolving credit agreement which replaces the previous revolving credit facility, and has an increased size and extended maturity compared to the previous facility. The new facility matures in five years, on July 10, 2018. The borrowing capacity has been increased from $400 million to $600 million.

The facility also includes a $200 million accordion feature allowing the company, with participating lenders' agreement, to increase the company's revolving credit borrowing capacity to up to $800 million.

Woodward is an independent designer, manufacturer, and service provider of control solutions for the aerospace and energy markets and is headquartered in Fort Collins, CO.