RTX Corporation in its $10 billion bridge credit agreement to fund an accelerated share repurchase

RTX Corporation (NYSE: RTX) announced that on October 24, 2023 it entered into agreements with each of Morgan Stanley & Co. LLC, Citibank, N.A. and Goldman Sachs & Co. LLC to repurchase an aggregate of $10.0 billion of RTX’s common shares as part of a share repurchase program recently approved by RTX’s board of directors.  RTX also announced that on October 24, 2023 it entered into a Bridge Credit Agreement with Citibank, N.A. as administrative agent.  The Bridge Credit Agreement provides for $10.0 billion in unsecured bridge loan facilities, which RTX intends to borrow in full to fund the accelerated share repurchase and pay related fees and expenses.

Wachtell, Lipton, Rosen & Katz is serving as legal advisor to RTX.