Woodward, Inc. (WWD) Form 8-K — Aug 21, 2026
Woodward, Inc. entered into a Note Purchase Agreement on August 19, 2026 for $450,000,000 of senior unsecured notes, split into three $150 million tranches: Series U due September 30, 2029, Series V due September 30, 2030, and Series W due September 30, 2033. Closing is scheduled for September 30, 2026, with proceeds earmarked for general corporate purposes. The notes carry fixed coupons of 5.34%, 5.39%, and 5.64% respectively, stepping up by 75 basis points in any quarter following one where the debt-to-EBITDA leverage ratio exceeds 3.5 to 1.0.
Key figures
- Debt Amount
- 450000000
- Interest Rate
- 5.34% (Series U), 5.39% (Series V), 5.64% (Series W); stepping to 6.09%/6.14%/6.39% if net debt-to-EBITDA exceeds 3.5:1.0
- Maturity Date
- September 30, 2029 (Series U); September 30, 2030 (Series V); September 30, 2033 (Series W)
- Closing date
- September 30, 2026
- Use of proceeds
- general corporate purposes
- Series u principal
- 150000000
- Series v principal
- 150000000
- Series w principal
- 150000000
- Default rate step up
- 2%
- Max leverage covenant
- 3.5:1.0 (4.0:1.0 during Material Acquisition Period)
- Cross default threshold
- 60000000
- Minimum partial prepayment
- 1000000
- Min interest coverage covenant
- 2.00:1.0
- Receivables securitization cap
- 200000000
Price after filing
Close on the filing date to close N calendar days later (from $343.26). Historical, not a forecast.
AI analysis
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