Parsons US$350m delayed-draw term loan (2022)
General corporate purposes
Key terms
- Borrower or issuer
- Parsons
- Date
- 14 Sep 2022
- Type
- Bank facility
- Amount
- US$350m
Recorded terms
- Structure
- Unsecured delayed-draw term loan with a US$150m increase option, guaranteed by subsidiaries
- Lenders and arrangers
- Bank of America, N.A., administrative agent
- Country
- United States
Parties
- Parsons borrower or issuer
- Lenders: Bank of America
Similar financings
| Date | Financing | Type | Amount |
|---|---|---|---|
| 7 Sep 2022 | Booz Allen Hamilton US$2.65bn term loan A and revolver refinancing (2022) | Bank facility | US$2.65bn |
| 24 Aug 2022 | Lockheed Martin US$3.0bn revolving credit facility (2022) | Bank facility | US$3bn |
| 23 Aug 2022 | Northrop Grumman US$2.5bn revolving credit facility (2022) | Bank facility | US$2.5bn |
| 12 Oct 2022 | BWX Technologies US$1.0bn secured credit facility (2022) | Bank facility | US$1bn |
| 29 Jul 2022 | L3Harris US$2bn five-year revolving credit facility (2022) | Bank facility | US$2bn |
More from Parsons
| Date | Financing | Type | Amount |
|---|---|---|---|
| 5 Jun 2025 | Parsons US$1.2bn term loan and revolving credit facility (2025) | Bank facility | US$1.2bn |
| 27 Feb 2024 | Parsons US$700m 2.625% convertible senior notes due 2029 | Convertible | US$700m |
| 25 Jun 2021 | Parsons US$650m unsecured revolving credit facility | Bank facility | US$650m |
| 20 Aug 2020 | Parsons US$350m 0.25% convertible senior notes due 2025 | Convertible | US$350m |
M&A and investment involving Parsons
| Date | Deal | Type | Value |
|---|---|---|---|
| 7 Jul 2021 | Parsons acquisition of BlackHorse Solutions | M&A | US$203m |
| 19 Nov 2020 | Parsons acquisition of Braxton Science & Technology | M&A | US$300m |
| 13 May 2019 | Parsons US$463m share offering | Equity raise | US$462.9m |
Sources
- Parsons Form 8-K: 2022 delayed draw term loan agreement sec.gov · 19 Sep 2022
About this record
Record DEF-2022-0018, taken from an issuer, lender or government announcement. Confirmed against the primary documents listed. Amounts are as announced; US$ 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.
