Shaw increases credit facility to $550 million

By Jennifer Chiou

New York, Oct. 4 - The Shaw Group Inc. said it amended its current credit facility, boosting it by $100 million to $550 million.

The full facility is available for performance letters of credit and up to $325 million is available for working capital revolving credit loans.

"This amendment to our credit facility will enhance our financial flexibility and capabilities to meet the needs of our customers and successfully pursue additional business opportunities in the end markets we serve, particularly in the energy, chemical and emergency response sectors," executive vice president and chief financial officer Robert L. Belk, Jr., said in a news release.

The facility's expiration remains April 25, 2010.

BNP Paribas is administrative agent, BNP Paribas Securities Corp. is joint lead arranger and sole bookrunner, Bank of Montreal is joint lead arranger and Credit Suisse First Boston, Cayman branch and UBS Securities LLC were syndication agents.

Baton Rouge, La.-based Shaw is an engineering and management services company.

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