KBR US$1.795bn senior secured credit facilities refinancing
Refinance the facilities under the 2018 credit agreement, extend maturities and cut margins
Key terms
- Borrower or issuer
- KBR
- Date
- 7 Feb 2020
- Type
- Bank facility
- Amount
- US$1.79bn
- Pricing
- Eurocurrency + 1.50% to 2.25% (pro rata facilities)
- Maturity
- 2025 (pro rata) and 2027 (term loan B)
Recorded terms
- Structure
- Amendment No. 2: US$275m term loan A, US$500m revolver, US$500m performance letter of credit facility and US$520m term loan B
- Lenders and arrangers
- Bank of America, N.A., administrative agent
- Country
- United States
Parties
- KBR borrower or issuer
- Lenders: Bank of America
Similar financings
| Date | Financing | Type | Amount |
|---|---|---|---|
| 12 Feb 2020 | Leidos US$1.0bn delayed-draw term loan for the L3Harris security detection acquisition | Bank facility | US$1bn |
| 17 Jan 2020 | Leidos US$2.68bn unsecured term loan A and revolver (2020) | Bank facility | US$2.67bn |
| 26 Mar 2020 | Saab SEK 4bn revolving credit facility (2020) | Bank facility | SEK 4bn |
| 20 Dec 2019 | Ducommun US$140m senior secured term loan A | Bank facility | US$140m |
| 30 Oct 2019 | Teledyne US$150m term loan | Bank facility | US$150m |
More from KBR
| Date | Financing | Type | Amount |
|---|---|---|---|
| 19 Jan 2024 | KBR US$1.0bn term loan B (2024) | Bank facility | US$1bn |
| 16 Sep 2020 | KBR US$250m 4.750% senior notes due 2028 | Bond | US$250m |
| 13 Nov 2018 | KBR US$350m 2.50% convertible senior notes due 2023 | Convertible | US$350m |
| 25 Apr 2018 | KBR US$2.15bn senior secured credit facilities for the SGT acquisition | Acquisition finance | US$2.15bn |
M&A and investment involving KBR
| Date | Deal | Type | Value |
|---|---|---|---|
| 3 Sep 2024 | KBR acquisition of LinQuest | M&A | Not disclosed |
| 5 Oct 2020 | KBR acquisition of Centauri | M&A | US$827m |
Sources
- KBR Form 8-K: amendment and refinancing of the credit agreement sec.gov · 12 Feb 2020
About this record
Record DEF-2020-0027, taken from an issuer, lender or government announcement. Confirmed against the primary documents listed. Amounts are as announced; US$ 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
A revolving or term facility is a relationship loan from a bank group, priced at a margin over a reference rate, with financial covenants and an agent.
