Amentum US$1.94bn debt financing for the PAE acquisition
Fund part of the merger consideration for Amentum's acquisition of PAE
Key terms
- Borrower or issuer
- Amentum
- Date
- 25 Oct 2021
- Type
- Acquisition finance
- Amount
- US$1.94bn
Recorded terms
- Structure
- Amended and restated commitment for US$1.943bn of secured financing: about US$1.293bn first-lien term loan, US$100m first-lien revolver and US$550m second-lien term loan
- Lenders and arrangers
- Commitment parties: JPMorgan Chase Bank, N.A., Royal Bank of Canada, Bank of America, N.A. (BofA Securities), Goldman Sachs Bank USA, Citizens Bank, N.A.
- Country
- United States
Parties
- Amentum borrower or issuer
- Lenders: BofA Securities, Bank of America, J.P. Morgan, Goldman Sachs, RBC Capital Markets, Citizens
Similar financings
| Date | Financing | Type | Amount |
|---|---|---|---|
| 27 Aug 2021 | Parker Hannifin US$2bn delayed-draw term loan for Meggitt | Acquisition finance | US$2bn |
| 2 Aug 2021 | Parker Hannifin £6.5bn bridge facility for Meggitt | Acquisition finance | £6.52bn |
| 2 Jul 2021 | SAIC US$100m incremental term loan for Halfaker | Acquisition finance | US$100m |
| 13 May 2022 | ManTech US$2.85bn take-private debt financing (Carlyle) | Acquisition finance | US$2.85bn |
| 22 Mar 2021 | Teledyne US$3,000m notes (5 tranches) to fund the FLIR acquisition | Acquisition finance | US$3bn |
More from Amentum
| Date | Financing | Type | Amount |
|---|---|---|---|
| 24 Apr 2026 | Amentum US$4.0bn refinancing (term loans A and B and revolver, 2026) | Bank facility | US$3.99bn |
| 27 Sep 2024 | Amentum US$1,000m 7.250% senior notes due 2032 | Acquisition finance | US$1bn |
| 27 Sep 2024 | Amentum US$4.6bn credit facilities for the Jacobs government services combination | Acquisition finance | US$4.6bn |
M&A and investment involving Amentum
| Date | Deal | Type | Value |
|---|---|---|---|
| 27 Sep 2024 | Amentum combination with Jacobs Critical Mission Solutions | M&A | Not disclosed |
Sources
- PAE definitive merger proxy statement (DEFM14A): debt financing sec.gov · 11 Jan 2022
About this record
Record DEF-2021-0026, taken from an issuer, lender or government announcement. Confirmed against the primary documents listed. Amounts are as announced; US$ equivalents use approximate annual average exchange rates. Spotted an error or have a document we have missed? Send a correction, and changes are logged on Updates and corrections.
Read the structure
Acquisition debt is committed before signing, often as a bridge, and refinanced with bonds or term loans once the deal closes.
