Curtiss-Wright (CW) said Wednesday it entered into a new agreement with nine banks to increase its revolving credit facility to $1 billion and expand its accordion feature to $500 million.

The replacement five-year line matures in May 2031 and terminates a prior credit facility set to expire in May 2027, the company said.

The company said it plans to use the facility for general corporate purposes, including potential acquisitions and internal growth initiatives.

Shares of the company were up 2.5% in Wednesday trading.

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