KBR US$2.15bn senior secured credit facilities for the SGT acquisition
Fund the acquisition of SGT, LLC by KBRwyle and refinance the prior credit agreement
Key terms
- Borrower or issuer
- KBR
- Date
- 25 Apr 2018
- Type
- Acquisition finance
- Amount
- US$2.15bn
- Maturity
- 2023 (pro rata) and 2025 (term loan B)
Recorded terms
- Structure
- Five-year term loan A facilities (US$350m), seven-year term loan B (US$800m), five-year US$500m revolver and US$500m performance letter of credit facility, secured and guaranteed by material domestic subsidiaries; replaces the 2015 Citibank-agented facility
- Lenders and arrangers
- Bank of America, N.A., administrative agent, swing line lender and letter of credit issuer
- Country
- United States
Parties
- KBR borrower or issuer
- Lenders: Bank of America
Similar financings
| Date | Financing | Type | Amount |
|---|---|---|---|
| 31 Oct 2018 | SAIC US$2.1bn term loans for the Engility merger | Acquisition finance | US$2.12bn |
| 13 Feb 2019 | TransDigm US$4.0bn 6.25% senior secured notes due 2026 for the Esterline acquisition | Acquisition finance | US$4bn |
| 2 May 2016 | Mercury Systems US$300m credit facility for the Microsemi carve-out | Acquisition finance | US$300m |
| 19 Feb 2021 | AeroVironment US$300m credit facilities for the Arcturus UAV acquisition | Acquisition finance | US$300m |
| 4 Mar 2021 | Teledyne US$2.15bn term loan and revolver for the FLIR acquisition | Acquisition finance | US$2.15bn |
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 |
| 7 Feb 2020 | KBR US$1.795bn senior secured credit facilities refinancing | Bank facility | US$1.79bn |
| 13 Nov 2018 | KBR US$350m 2.50% convertible senior notes due 2023 | Convertible | US$350m |
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$827m |
Sources
- KBR Form 8-K: new credit agreement and completion of the SGT acquisition sec.gov · 27 Apr 2018
About this record
Record DEF-2018-0015, taken from an issuer, lender or government announcement. Confirmed against the primary documents listed. Amounts are as announced; US$ 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.
