AeroVironment amends credit agreement, raising revolving commitments to $450 million

On October 30, 2026, AeroVironment and certain subsidiaries acting as guarantors entered into a Sixth Amendment to Credit Agreement with Bank of America, N.A., as administrative agent. The amendment increases aggregate revolving commitments by $100 million, from $350 million to $450 million.

The amendment reallocates commitments among the lenders, including BMO Bank N.A., which joins as a new lender. Existing lenders include JPMorgan Chase Bank, N.A., U.S. Bank National Association, Citizens Bank, N.A., Citibank, N.A. and Royal Bank of Canada. The amendment did not constitute a novation of the existing credit agreement, dated February 19, 2021.

On October 9, 2026, AeroVironment entered into a Fifth Amendment that raised the letter of credit sublimit from $25 million to $150 million and added JPMorgan Chase Bank, N.A. as a letter of credit issuer. That amendment did not increase aggregate revolving commitments.

After the Sixth Amendment, the revolving facility includes the $150 million letter of credit sublimit and a $10 million swingline sublimit, both part of the revolving facility rather than in addition to it. The amendment adds letter of credit flexibility, including bilateral letters of credit and certain cash-collateralized letters of credit for deposit obligations, subject to the terms of the amended agreement.

The revolving facility continues to mature on October 4, 2029, and its obligations remain secured by substantially all assets of AeroVironment and the guarantors. Other loan documents remain in full force and effect, and the loan parties reaffirmed their guarantees and security interests.