AECOM Enters into Amendment No. 10 to Credit Agreement
April 14, 2021 at 01:40 am IST
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On April 13, 2021, AECOM entered into that certain Amendment No. 10 to credit agreement (Incremental Term B Facility) (the “Amendment”), by and among company, each guarantor party thereto, the lenders party thereto (the “Lenders”) and Bank of America, N.A. as administrative agent (the “Administrative Agent”), amending that certain Syndicated Facility Agreement, dated as of October 17, 2014, by and among the Company, the other borrowers (together with the Company, the “Borrowers”) and guarantors from time to time party thereto, the lenders from time to time party thereto, and the Administrative Agent (as amended, amended and restated, supplemented or otherwise modified prior to the date hereof, the “Existing Credit Agreement” and as amended by the Amendment, the “Credit Agreement”), pursuant to which the Lenders have provided a secured term “B” credit facility (the “Term B Facility”) to the company in an aggregate principal amount of $700,000,000. The Term B Facility matures on April 13, 2028. The proceeds of the Term B Facility were used to fund a portion of the Purchase Price (as defined below) and fees and expenses in connection with the company’s previously announced cash tender offer (the “Tender Offer”) to purchase up to $700,000,000 aggregate purchase price (not including any accrued and unpaid interest) of the company’s outstanding 5.875% Senior Notes due 2024 (the “Notes”). The Term B Facility is subject to the same affirmative and negative covenants and events of default as the existing term loans previously incurred pursuant to the Existing Credit Agreement (except that the financial covenants in the Existing Credit Agreement do not apply to the Term B Facility). The applicable interest rate for the Term B Facility is calculated at a per annum rate equal to, at the company’s option, (a) the Eurocurrency Rate (as defined in the Credit Agreement) plus 1.75% or (b) the Base Rate (as defined in the Credit Agreement) plus 0.75%.
AECOM is an infrastructure consulting company, providing professional services throughout the project lifecycle. The Company's business is focused primarily on providing fee-based knowledge-based services. The Company's segments include Americas, International and AECOM Capital (ACAP). The Americas segment provides planning, consulting, architectural and engineering design, construction management and program management services to public and private clients in the United States, Canada, and Latin America. The International segment provides planning, consulting, architectural and engineering design services and program management to public and private clients in Europe, the Middle East, India, Africa, and the Asia-Australia-Pacific regions. The ACAP segment primarily invests in and develops real estate projects. It serves public- and private-sector clients worldwide in end markets, such as transportation, facilities, water, governments, environmental and new energy.